jvratnam (Others) (109 Points)
12 November 2017I UNDERSTAND THAT ONE SHOULD NOT INCUR CASH EXPENDITURE OF MORE THAN Rs.2 LAKSH IN A FINANCIAL YEAR. . I AM A N INDIVIDUAL ASESSESS. I INCUR CASH EXPENDITURE OF RS. 25,000 PER MONTH ON ITEMS LIKE SALARY TO MY HOUSE HOLD SERVANT, POWER BILL, PURCHAE OF VEGETABLES AND FRUITS, OTHER SUNDRY ITEMS ETC.
IS IT PERMISSIBLE TO INCUR CASH EXPENDITURE ,ON SUCH ITEMS ? I DRAW CASH FROM MY SAVINGS ACOUNT BANK , PERIODICALLY..
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 12 November 2017
"IS IT PERMISSIBLE TO INCUR CASH EXPENDITURE ,ON SUCH ITEMS ? I DRAW CASH FROM MY SAVINGS ACOUNT BANK , PERIODICALLY.."
Yes, you can expend such amount in cash, when the expenditure is done for personal use, and the cash is authentic.......... Only restrictions are for business expenditures......
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