Cash payments excedding 20k in a day to a single party

Raghuvamsi Kurapati (Article Assistant) (21 Points)

08 September 2016  

As per income tax act, any expenditure made in cash exceeding 20K in a day has to be added back to our profits, If we had made such paymnet related to capital expenditure how can we added back as we didn't debited to P&L acc