cash paid by director to supplier which is more than 20000 is it allowed
Yogesh
(Account Assistant)
(54 Points)
Replied 23 December 2010
cash paid by director to supplier which is more than 20000 is it allowed
aruna maheshwari
(article)
(22 Points)
Replied 23 December 2010
Any payment more than Rs. 20000 other than by way of account payee cheque or bank draft will attract sec 40A(3). If director deposit more than Rs 20000 in bank account bof suppllier will be disallowed. There is specifically mentioned that payment should be in account payee cheque or draft. so it will be disallowed.
Sumiti Jain
(FP)
(1364 Points)
Replied 27 December 2010
| Originally posted by : aruna maheshwari | ||
 |
Any payment more than Rs. 20000 other than by way of account payee cheque or bank draft will attract sec 40A(3). If director deposit more than Rs 20000 in bank account bof suppllier will be disallowed. There is specifically mentioned that payment should be in account payee cheque or draft. so it will be disallowed. |
 |
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
