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Payment More than 20,000/-

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(Querist)
28 June 2011 i have incurred expense of building repairs contract of Rs. 100,000/-.... And i have made payments in 5 equal installments of Rs. 20,000/- in CASH in five different days... As am not crossing 20,000/- limit in a day, is this expense allowable.... And does it make any difference if i have purchased goods of Rs. 100,000/-?????
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DEEP SINGH TOMAR

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DEEP SINGH TOMAR (Expert)
28 June 2011 Hello friend

The amount paid wihtout TDS deducted will not allowed as expenses in case of building repairs

Purchase of goods expenses allowable in this case
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Yusuf

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Yusuf (Querist)
28 June 2011 ya but does it make any difference that if their is only one single bill of goods purchased....



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DEEP SINGH TOMAR

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DEEP SINGH TOMAR (Expert)
28 June 2011 There is no difference
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Yusuf

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Yusuf (Querist)
30 June 2011 But the contractor have raised only one single bill... still its d same
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DEEP SINGH TOMAR

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DEEP SINGH TOMAR (Expert)
30 June 2011 tds has to deduct bill book or payment whichever is earlier, still tds will same in this case
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Yusuf

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Yusuf (Querist)
30 June 2011 m not concerned about TDS... that toh i will deduct.. but as m paying 100,000 in cash is it allowable....
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DEEP SINGH TOMAR

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DEEP SINGH TOMAR (Expert)
30 June 2011 100% expenses disallowable




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