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Limit of payment of salary in cash
03-09-2011, 07:08 PM
Post: #1
Limit of payment of salary in cash
please tell me the reference in income tax ordinance regarding the payment of salary in cash. According to my information the limit of salary to be paid in cash is Rupees 15,000.
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03-10-2011, 03:44 AM
Post: #2
 
Please read section 21 clause m of the ITO, 2001






<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Saqib alvi</i>
<br />please tell me the reference in income tax ordinance regarding the payment of salary in cash. According to my information the limit of salary to be paid in cash is Rupees 15,000.

<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
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03-10-2011, 02:40 PM
Post: #3
 
agreed with sayub, as per sec. 21 (m)
21. Deductions not allowed.-
(m) any salary paid or payable exceeding 1[fifteen] thousand rupees per month
other than by a crossed cheque or direct transfer of funds to the
employee’s bank account; and
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