40A(3)-Saturday afternoon payments
This query is : Resolved
21 November 2009
Dear Profnl brothers,
This is regarding the Cash payments made in excess of Rs.20000 on Saturday afternoons.
Saturday afternoons are not considered as holiday by the Banking Sector. In the Circulars and awards, they talk about the working hours on weekdays and on saturdays and don't refer the S'day afternoon as a Holiday.
Rule 6DD talks about a day on which the Banks are closed due to holiday /strike etc.
Is there any case law /authority to say that the S'day afternoons are holidays so that the benefit of Rule 6DD can be availed.
I will be grateful for any input in this regard.
SRINIVAS SRIRAJ
This is regarding the Cash payments made in excess of Rs.20000 on Saturday afternoons.
Saturday afternoons are not considered as holiday by the Banking Sector. In the Circulars and awards, they talk about the working hours on weekdays and on saturdays and don't refer the S'day afternoon as a Holiday.
Rule 6DD talks about a day on which the Banks are closed due to holiday /strike etc.
Is there any case law /authority to say that the S'day afternoons are holidays so that the benefit of Rule 6DD can be availed.
I will be grateful for any input in this regard.
SRINIVAS SRIRAJ
21 November 2009
No there is no such benefit,
section 40A(3) will be applicable
section 40A(3) will be applicable
21 November 2009
i think 40A(3) will be applicable
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- TDS on TRUST
- Section 50-fixed asset-->building ceases to exist
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Consolidated financials
- Tds on commission charges
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
