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Cash Payment Greater than 10000 Disallowed

Last updated at Dec. 16, 2024 by Teachoo

Existing (Financial Year 2016 - 2017 or AY 2017-18)

  • Cash Payments > 20000 are disallowed under Section 40(a)
  • This applies to only OPEX (Operating Expenses)
  • Not applicable to CAPEX (Purchase of Fixed Assets)

New(Financial Year 2017 - 2018 or AY 2018-19)

  • Cash Payments>10000 are disallowed under Section 40(a)
  • In case of fixed assets(CAPEX) purchased in cash more than 10000, depreciation will not be charge on it.
  1. Tax Practical
  2. Budget Amendments - Changes in 2020

    3. Income Tax Budget Changes 2017

    TDS Budget Changes 2017 →
TDS Budget Changes 2017 →
Tax Practical
Budget Amendments - Changes in 2020

About the Author

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.