Agricultural produce
VINITHA KRISHNAN (ARTICLE) (23 Points)
16 January 2018
Can i make a payment of 200000 for agricultural produce to cultivator per day
5 Replies
CA Abbasali H. Bhaisaheb
(Working as A FACULY FOR CA STUDENTS)
(1127 Points)
Replied 16 January 2018
Vinitha... Can you tell why you can't.. Cash payments criteria doesn't cover RULE 6D i suppose.. If u pay directly to farmers
jitendra
(JUNAGADH)
(146 Points)
Replied 16 January 2018
yes you can, under section 6DD of income tax act. limit is less than 200000 under other section of income tax act
CA Abbasali H. Bhaisaheb
(Working as A FACULY FOR CA STUDENTS)
(1127 Points)
Replied 16 January 2018
And its 20000 not 2 laca
VINITHA KRISHNAN
(ARTICLE)
(23 Points)
Replied 16 January 2018
limit changed to 10000 under sec 40A3 but payment cannot exceed 200000 under sec 269 ST .My doubt is whether this payment can be made to a farmer in a single day.
Anand Kumar
(35 Points)
Replied 16 January 2018
maximum par day limit is rs 10000 but if you make a payment morethan 5000 you have to take registration in gst coz reverse mechanism.........
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