Dear Chanakya,
Ya u r rite in d circular the limts are Rs. 50,000 & 1,00,000 instead of Rs. Rs. 75,000 & Rs. 1,00,000..
I think it is due to an error & nothing else as Circulars cannot supercede Law.
Mr. Chanakya,
The circular limts 80 U to Rs. 50,000 & 1,00,000 instead of Rs. Rs. 75,000 & Rs. 1,00,000..
As Mr.Amir pointed out,Circulars cannot supercede Law.
CAclubindia
