Dear friends, As we all know that finance act 2017 has decreased the limit of cash expenses from present 20000 to 10000. my query is if any employer is paying salary or wages to its workers in cash and the monthly amt is for each worker is more than 10000 then whether same will be violation of the 10000 cash exp limit or not. one more point here i wanted to ask is if employer is paying some production incentive to its employee and the amt is more than 10000 for each employee then whether the same can be paid in cash or not.
Salary/ wages or production incentive in cash
CA Lakhbir Saini (Chartered Accountant) (191 Points)
24 April 2017