Salary paid in Cash in excess of Rs.20000
(Guest)
Whether Salary paid in excess of Rs. 20000 in cash is disallowed or not as per the provisions of Income Tax Act?
13 Replies
Vidya
(Student)
(789 Points)
Replied 05 December 2008
It is disallowed. Please check Rule 6DD of Income tax Rules for exceptions.
CA Rohit Meher
(Consultant)
(44 Points)
Replied 05 December 2008
| Originally posted by :Lavanya Daggupati | ||
| " | Whether Salary paid in excess of Rs. 20000 in cash is disallowed or not as per the provisions of Income Tax Act? | " |
yes, disallowed subject to exceptions under rule 6DD
CA Rohit Meher
(Consultant)
(44 Points)
Replied 05 December 2008
| Originally posted by :Lavanya Daggupati | ||
| " | Whether Salary paid in excess of Rs. 20000 in cash is disallowed or not as per the provisions of Income Tax Act? | " |
praveen
(Chartered Accountant)
(6971 Points)
Replied 05 December 2008
disallowed see exceptions as per RULE 6DD
CA RAJESH RATHI
(C.A.)
(23 Points)
Replied 05 December 2008
yes, disallowed subject to exceptions under rule 6DD
basic rule is if any exp. and purchase debited in profit and loss a/c >20000 than it will be disallowed
(Guest)
| Originally posted by :Lavanya Daggupati | ||
| " | Whether Salary paid in excess of Rs. 20000 in cash is disallowed or not as per the provisions of Income Tax Act? | " |
Hello dear this question is ok but ur answer is not right dear
S. K. Jangra Advocate
(Advocate)
(62 Points)
Replied 05 December 2008
disallowed. Its ok but ..... It is allowed when cash voucher made with revenue stamp/ singed
RAJU
(LEARNER)
(1089 Points)
Replied 06 December 2008
If payment is made after deducting tax at source, the same will not be disallowed.
CA Shree Jain
(Chartered Accountant)
(1572 Points)
Replied 06 December 2008
Disallowed as per rule 6 DD of Income tax Act of cash payment of excess of Rs. 20000/-
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