What is the rules for cash payments more than 20000/- and what provision for cash payments for single party
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cash payments
Replies (6)
You can not payment in excess of rs.20000.00 in a day to same person. But you can payment of two different bills in excess of rs.20000.00 to same person.
You can not make a payment exceeding Rs. 20,000.00, in a single day to the same party for a single bill, through cash or bearer cheque.
If you do so, then the respective expenditure will be disallowed.
Exception:
1. Payment made for plying, hiring, transportation charges upto Rs. 35,000.00
2. Payments made on bank holidays, in rural areas etc.
is it allowed for a single bill more than 20000 say 38000, payment in cash for two days 19000,19000rs respectively?
yes it will allowed in two days.
Yes its allowed in sucha way.
Thank you so much
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