Cash expenditure

Ravi M (CA-Final) (460 Points)

17 March 2011

Hi Friends,

i want to know cash expenditure limit per annum for single party

Reply me as fast as possible

Regards

Ravi M

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3 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 17 March 2011

You can not do excess of Rs.20000/- cash payment as expenditure of against one bill to one party in one day.. for plying and hiring its 35000/-

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Athmaram (Articled Assistant) (170 Points)
Replied 18 March 2011

Originally posted by : Pankaj Arora
	You can not do excess of Rs.20000/- cash payment as expenditure of against one bill to one party in one day.. for plying and hiring its 35000/-

Apart from the above rule there is no other restriction on cash expenditure according to the Income Tax Act.

Regards

Ram.

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AVIJIT (CA FINALIST) (370 Points)
Replied 18 March 2011

Agree with the above. There is no per annum limit as such.

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