Limit of cash payment in a single a day

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payement made to any specific person in cash exceeding 20000 in a day..has the limit been changed to 30000 ?
Replies (8)

pls inform me as soon as possible

NO , there is no change in limit of RS 20000 . There is only a clarification that the limit is Rs 35000 to SMALL TRANSPORTER (owning upto 10 vehicle) and not for all transporter.

Dear Akbar,

                  There is no change in cash paymennt in a sigle day...i.e. limit is still Rs. 20,000/-

DEAR AKBAR 

I AGREE WITH ABOVE ALL FREINDS ADVICE, BUT YOU MUST BE KNOW THAT 

IF YOU ARE A SMALL TRANSPORTOR ( LIMIT MAX. 10 TRUCK ) THANT YOU CAN PAYMENT  UP TO RS 35000 TO ONLY  FREIGHT CHARGE TO OTHERS ,

BUT ALL OTEHR EXPENSES YOU SHOUL PAY ONLY UNDER RS 20000. 

THANKS

payments made to "A PERSON" in a single day shouldnt exceed 20000/- (35000 in case of goods transporters) 

or else disallowance under 40 applies

I agree with all above advice ie no change for AY 15-16

thank a lot to all of u..

thank u bhaijaan...


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