can one make cash payments of more than 20000/- at a time to sundry creditors against due bills
can one make cash payments of more than four laks during the year to sundry creditors against due bills
or, is such payment also disallowed u/s 23.
anand (BUSINESS) (136 Points)
04 April 2011can one make cash payments of more than 20000/- at a time to sundry creditors against due bills
can one make cash payments of more than four laks during the year to sundry creditors against due bills
or, is such payment also disallowed u/s 23.
Rachit
(Ca-Final Article.)
(565 Points)
Replied 04 April 2011
Dont have any information about the second 1 but payment to creditor over and above 20000 is disallowable under income tax act..........
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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