Ramya Bhat (254 Points)
07 March 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 07 March 2021
Threshold limit Ian 10,000₹ cash payments per day. Any payment above it is disallowed. Ppl can accumulate for 13 days and show it as payments in accruals but a receipt is required immediately for every transaction
Ramya Bhat
(254 Points)
Replied 07 March 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 07 March 2021
If you paid 10000*13 times, it is allowed. Only for transporters, you can pay 35000 per day without disallowance.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 07 March 2021
Yes only when cash transactions are not more than 10,000 per day
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 07 March 2021
siva andhavarapu
(ca final)
(388 Points)
Replied 08 March 2021
As per Rule 6DD(Exceptions to 40A(3)
Where the payment is made to the Govt and, under the rules framed by it, such payment is required to be made in legal tender.
*So you have to check the rules framed by BBMP for concluding this payment is allowed or disallowed.
CAclubindia
