Limit for disallowance of business expenditure made in cash above rs 10,000/-
Dileep (Accountant) (82 Points)
04 May 2017Dileep (Accountant) (82 Points)
04 May 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174645 Points)
Replied 04 May 2017
"These payments are made in India to different consulates in cash. Can we make cash payment above Rs 10,000/- in such case ?
Is there no option available to pay by DD or online bank transfers?
Dileep
(Accountant)
(82 Points)
Replied 04 May 2017
Yes. That Option is there but many times Considering Urgency, based on Departure dates of Group tours (To get Visa of all tour participants) before due date, Cash payment is easy instead of making DD/NEFT
Dileep
(Accountant)
(82 Points)
Replied 04 May 2017
Will Cash Exp if exceeds Rs 10,000/- disalloable In this case ?
rama krishnan
(12234 Points)
Replied 04 May 2017
Sunil Sharma
(CMA & CS)
(584 Points)
Replied 04 May 2017
rama krishnan
(12234 Points)
Replied 05 May 2017
RIcha Anand
(Practice)
(29 Points)
Replied 05 May 2017
TDS limit for transporters is 30000, and for cash payment it is still Rs 35000/-
Vikash Anand
(11 Points)
Replied 05 May 2017
Thanks for your reply but still confusion exists regarding the cash payment to transporters.
We r in FMCG Industry and cash payment to tranporters are frequent.
What is in Act and Rules , May please reply????
Sunil Sharma
(CMA & CS)
(584 Points)
Replied 05 May 2017
mahesh vora
(proprietor)
(22 Points)
Replied 06 May 2017
As such Travel Agents makes payment on behalf of their clients so it can be argued that each payment was made to consulate office on behalf of each passenger.There is provision of accepting DD , but if there is limitation as to time then cash is preferred by Travel Agents.Some of the consulates also accepts online payment .It is not expenses incurred by Travel Agency Co.
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