Hi Friends,
i want to know cash expenditure limit per annum for single party
Reply me as fast as possible
Regards
Ravi M
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/-
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/- |
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Apart from the above rule there is no other restriction on cash expenditure according to the Income Tax Act.
Regards
Ram.
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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