Transfer of amount to imprest advance in cash
This query is : Resolved
01 February 2019
Dear All,
Please advise whether any legal implication will be attracted to a transaction of transfer of Rs.5,00,000/- in cash to imprest advance to an employee under Sec 40 A(3) or Sec 269ST or under any other law? Is there any statutory limit on the amount to be transferred to imprest advance in a single day.
Thanks & regards,
Kiran.
Please advise whether any legal implication will be attracted to a transaction of transfer of Rs.5,00,000/- in cash to imprest advance to an employee under Sec 40 A(3) or Sec 269ST or under any other law? Is there any statutory limit on the amount to be transferred to imprest advance in a single day.
Thanks & regards,
Kiran.
01 February 2019
2 lacs is the limit under section 268ST. He can't pay cash exceeding 10,000 from the imprest to a single person in a day.
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