25% OFF on all LCI Courses. Offer valid till 5th Oct. Use Code: DUS25
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

What happen if payment done above Rs.20000/- in cash.

(Querist) 21 June 2011 This query is : Resolved 
If any person make a payment in cash exceeding Rs.20,000/- what liability attached to him under Income Tax Act, 1961.?


Regard
preet
Lawyerpreetkaur@gmail.com
DEFENSE ADVOCATE.-firmaction@g (Expert) 21 June 2011
this is not allowed for expanses only.
soumitra basu (Expert) 29 June 2011
The expenditure for which the amount was paid in cash shall not be entitle for deduction. However there is some exceptional clauses.


You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :





Post a Suggestion for LCI Team
Post a Legal Query