Cash for expenses
27 October 2021 Rs 40,000/= paid to society in cash for NA Applications... while selling plot, is deductible as Exp or to consider cost of land... any problem for paid in cash ?
28 October 2021 You may consider it to cost of land.
But is it for NOC or NA application?
29 October 2021 It us for NA to Socty, but in CASH?
29 October 2021 First of all society cannot take NA charges, as it is the revenue authority who can charge for that. If it it contribution collected from all the members, no problem if proper receipt provided by society.
29 October 2021 Yes right, but Socty organized and paid to Authority...and collected from members. Official recept given..when paid in Cash will be allowed as Exp or to capitalise as cost ???🙏🤔
29 October 2021 You may capitalize it to cost, though with chances of its dis-allowance .
29 October 2021 🙏😄 OK thanks sir, will be allowed as Expense (though paid in cash)..????
29 October 2021 It is not expense as such, as paid at the time of purchase of land.
Secondly, it will never be allowed when paid in cash.
29 October 2021 Ok MANY MANY THANKS FOR PROMPT REPLY 👍 😀 🙏 😊
29 October 2021 Most Welcome ..