Cash
This query is : Resolved
02 November 2013
Is it applicable if paid cash Rs.20,000/-
will i get cash expense benefit in Income Tax
or it would diallowed?
will i get cash expense benefit in Income Tax
or it would diallowed?
02 November 2013
yes. under section 40A(3) expenses paid by cash more than Rs.20000/- will be disallowed
02 November 2013
it means if i pay 20,001/- in cash it will get diallowed.
& if i will pay 20,000/- then it will not disallowed.
& if i will pay 20,000/- then it will not disallowed.
02 November 2013
As per section. it is exceeding Rs.20000. so if you pay Rs.20001/- the it will be disallowed. till Rs.20000/- not disallowed
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