40A(3)
This query is : Resolved
Shambhu Agarwal
(Querist)
11 December 2009
Suppose I have to Pay Rs.60,000/- to Mr R. Now liability of Rs. 35,000/- created by Mr.R. So can I pay net amount Rs.25,000/- to Mr. R in Cash? (as per Exception Under Rule 6DD where the payment is made by way of adjustment against the amount of any liability incurred by the payee for any goods supplied or services rendered by the assessee to such payee )
Ram Avtar Singh
(Expert)
11 December 2009
Yo can not pay Rs 25000 for goods supplied by assessee. in case of capital goods then you can pay.
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