Cash payment - limit - regarding

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Shall we pay Rs.1 Lakh Rupees to government Challan in single payment ?
Replies (15)

Yes... govt tax payments can be done in cash without any limit.

We are told each expenses should be below Rs.20,000.  I do not know this rule will apply to government payments

Originally posted by : p.subrahmanyam
Shall we pay Rs.1 Lakh Rupees to government Challan in single payment ?

NO Such Limit For Payment to Government Challan in Single Payment.........

agreed with amit kanunga. no special provisions given under income tax act in regards of government payment..

You can not do any cash payment of any expenses in a day to a party other than government more than Rs 20000.

PLEAE GIVE US ANY REFERENCE OF BARE ACTS TO SUPPORT YOUR ANSWER.

Shall I accept part amt of cash for my property sale n part by cheque. All entries are properly accounted
Originally posted by : sharad rai
PLEAE GIVE US ANY REFERENCE OF BARE ACTS TO SUPPORT YOUR ANSWER.

https://www.incometaxindia.gov.in/tutorials/disallowance-of-business-expenditure-theory.pdf

You can find in the 9th page of this pdf, that payments can be made to government without any limit.

THANKS FOR INFO

Shall I accept part amt of cash for my property sale n part by cheque. All entries are properly accounted.......yes you can because the limit is for payment in cash and not for receipt
Is there any limit to cash receipts

can a finance company or banks make a single payment abouve limit i.e. rs 20000 ??

Yes Payment exceeding Rs. 20000  to Govt can be made in cash. This exception provided in Rule 6DD

sir, i am asking about that a Finance company make a payment exceed 20000 to other than govt ?


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