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Categories  >>  Accounting  >>  Taxation
 
 


 

 
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Question
cash transaction in a year up to Rs.20,000/- that rule under 
sec.40-A. It may be any revised rule updated. Please inform me 
anybody, and also suppose giving cash/cheque it is possible.
 Question Submitted By :: Satchi3
I also faced this Question!!     Rank Answer Posted By  
 
  Re: cash transaction in a year up to Rs.20,000/- that rule under sec.40-A. It may be any revised rule updated. Please inform me anybody, and also suppose giving cash/cheque it is possible.
Answer
# 1
Cash payment in a singal day to party should not be
morethen rs. 20000/-, however payment is being made for
hiring ro leasing ( transportation) , the limit is 35000/-


if payment is more then 20000/- will disalloued. and deemed
as profit.
 
Is This Answer Correct ?    4 Yes 0 No
Gulzar Singh ( Gulzar.thpl@gma
 

 
 
 
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