Abdul Azeez.T.K (Article Clerk) (27 Points)
24 August 2009Whether Payment above Rs: 20000/- is excempted for a Registered Dealer( Main Dealer) purchase Agriculral Product from Other Registered Dealer( he is purchased from Agriculral Farmers and sell to Main Registered Dealer, he is acting as agent).In the current situation the Main dealer , he can not pay cheque because the other dealer he want money immediatly. Other wise he will give the product to some other dealers. Please give any case laws related with it
Gokul
(Asst. Manager Costing)
(339 Points)
Replied 24 August 2009
If other dealers are acting as pure Agent for main dealer then payment made by main dealer to other dealers by cash or bearer chech ampunted more than Rs.20000 is acceptable.
CAclubindia
