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How much cash payments are allowed under Income tax Act

26 Mar, 2024

By Vidhu

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How much cash payments are allowed under Income tax Act

Section 40A(3) of Income Tax Act, 1961 deals with cash expenditures. Expenditure of cash payment of over Rs. 10,000 or more shall be disallowed under Income Tax.

It is important to make payments of over Rs. 10,000 through banking channels