40 A (3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 December 2010
one of my client is an commission agent of second hand vehicles . he has deposited more than 20,000 in bank for purchase of ceased vehicle i there any dis allowance u/s 40 A (3)....
21 December 2010
If the amount is deposited in the bank a/c of the commission agent. Under Section 40A(3), there is no dis allowance as the payment would have been made from/through his bank A/c.
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