during a financial year, I made a payment voucher of 180000 in cash what cash payment is allowed or not in this case
6 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 14 March 2020
Not...
above 10k is restricted under income tax...
above 10k is restricted under income tax...
Ankush
(Student)
(1369 Points)
Replied 14 March 2020
Show rent paid on weekly basis then it will be below 10k
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 14 March 2020
Payment more than Rs. 10,000 is not allowed to be paid to a single person in a day.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 14 March 2020
What is your nature of business ??
If it is transportation business then the payment per day limit per person for an expense is 35000/- .Else 10,000/-
If it is transportation business then the payment per day limit per person for an expense is 35000/- .Else 10,000/-
rama krishnan
(12239 Points)
Replied 15 March 2020
35000 threshold limit is in respect of payment made to transporter after obtaining the transporters PAN and not for rental payments.
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