Allowability of expenditure made in cash in excess ofRs20000
This query is : Resolved
13 December 2010
Plz clarify that as per sec 40A(3) any expenditure made in cash in excess of Rs20000/- shall not be allowed if paid to any one right! but a Pvt hospital which is exempt u/s 17(ii)& 194(J) is also covered in the section i.e if payment is made in cash in excess of Rs 20000 then still it shall be disallowed basically an accident occured on site for which company occured more than 1 lakh in cash but more than 20000 in a single day on operation n etc charges so whether is there any provision that that the expenditure get allowed irrespective of this cash payment,plz tell asap
13 December 2010
For reading sec.40A(3) along with rule 6DD. not specifes any specfic exemption for this kind of expenses. so even payment to hospital by cash also will attract sec.40A(3) except considering rule 6DD conditions
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Form 10BD Filling
- Annual return of gst limit
- Which ITR To be filed by dentist
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
