What it means s alary in cash in excess of Rs 10,000 in circumstances other that Rule 6DD(j) shall be disallowed . Salary slips consist of the salary details of the employees, which include earnings like basic wage, HRA, Conveyance allowances, medical allowances, special. (B) does not maintain any account in any bank at such place or ship ”Īpart from this, if the place has no banking facility, then when you can pay salary exceeding Rs 10000 in cash. (A) is temporarily posted for a continuous period of fifteen days or more in a place other than his normal place of duty or on a ship and ”6DD(j) where the payment is made by an assessee by way of salary to his employee after deducting the income-tax from salary in accordance with the provisions of section 192 of the Income-tax Act, 1961, and when such employee Sub clause of Rule 6DD by which law provides the circumstances under which the salary paid in cash exceeding Rs 10000 is disallowed. The Rule 6DD(j) is given as under The salary slip format mainly has two parts Income and Deductions. Net Salary CTC Provident Fund Contribution Gratuity Income Tax (TDS) 3. However,there are certain exceptions provided under Rule 6DD of Income Tax Rules. An employee’s pay in cash or their bank account after tax deductions is their net salary. Section 40A(3) provides that payments in excess of Rs 20000 in cash shall be disallowed while computing the ”profits & Gains from business or profession”. Updated The limit of cash payment under section 40A (3) is now Rs 10000 now vide Finance Act 2017
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