CASH PAYMENT

M.Mahesh (student) (28 Points)

11 April 2009  

HAI FRIENDS,

accounding to provisions of 40 income tax act, 1961 cash payments does not exceeds Rs.20000/-, i  have a doubt regarding this

Whether cash payment includes   Avances or not

if we pay advance more than Rs.20000/- in cash, subsequently expenditure accounted then that expenditure will be allowed or disallowed

please giv e me details

thankyou