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All QuestionsCategory: Income Tax ConsultancyIncome Tax Cash Limit
Profile photo of Arindam PaulArindam Paul asked 2 years ago

Income Tax Cash Limit

Please give a detailed example forĀ Income Tax Cash Limit transaction u/s 269ST, 40A(3), and give an example

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Profile photo of GauravGaurav answered 2 years ago

As per Section 40A(3) we can not pay an amount exceeding Rs. 10,000/- to any one person in single day as a business transaction otherwise it would be disallowed but subject to certain exceptions