Suggestion : Whether Covid or Non Covid times, avoid Cash payments
Don’t pay in cash over Rs 10000,
*even to a Hospital* ….If you feel it is a “business expense”
Similarly, Even hospitals should not “receive cash” above limits. ( except during 1st April 2021 to 31-May-2021 ) .. .see link below for details cash receipts and payments
Even Construction costs cannot be given in Cash
cash receipts and payments :- Even 80G Donation* is not valid in income tax, if paid in CASH.
Source :
https://mlgassociates.in/index.php/avoid-cash-payments-income-tax-updates/
Socio Economic Message by
Finsys ERP Team,
http://www.finsys.co.in/news
Website: https://finsys.co.in/
Youtube: https://www.youtube.com/@SangeetGuptaFinsysERPSoftware