upto 10000 payment after what problem come?
4 Replies
satish
(teaching)
(2046 Points)
Replied 13 December 2018
as per 40a(3) of incometax act up to 10,000 you can pay in the form of cash in a single day for one person.
beyond that should not be in cash form, can pay through bank in any other more.
if you have not followed department will not consider these payments as expenditure.
when expenditure not considered, profit will be increase.
beyond that should not be in cash form, can pay through bank in any other more.
if you have not followed department will not consider these payments as expenditure.
when expenditure not considered, profit will be increase.
SkDash
(CS (Member) CWA (Final))
(909 Points)
Replied 13 December 2018
Is it 10,000? I believe this is 20,000
S ELAVARASI
(ACCOUNTANT)
(2975 Points)
Replied 13 December 2018
If it's exceeding above 10k then Disallowed as per section.
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