Audit of cash
pkD (article) (221 Points)
13 September 2014
if any cash payment exceeds rs. 20000...then what are the points to consider while auditing?
7 Replies
Dixit
(CA Final)
(2405 Points)
Replied 13 September 2014
1. Single payment more than rs. 20000 to single person is disallowed in IT.
pkD
(article)
(221 Points)
Replied 13 September 2014
so wages paid rs. 44500 will be allowed...am i right?
Dixit
(CA Final)
(2405 Points)
Replied 13 September 2014
Yes, but there are not payment of single party.
Dixit
(CA Final)
(2405 Points)
Replied 13 September 2014
Welcome for further querry u can also mail me on dixpatel1989 @ gmail.com
pkD
(article)
(221 Points)
Replied 13 September 2014
ok...tell me one more thing that if we make payment to the same party many times in a year for eg 30000,20000,10000....so will only 30000 be disallowed?
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