Cash payment
This query is : Resolved
SANJAY KUMAR AGARWAL
(Querist)
06 September 2013
Can a private limited company transfer cash exceeding Rs. 20000/- to its branch office located in another state. Did the restriction of cash transaction u/s 40A(3)applicable on transactions between a the H.O of a private limited co. & its branches.
Ajay Mishra
(Expert)
06 September 2013
Hi
Yes, they can transfer more than Rs. 20000/- to its branch office without any aplicability of provision of Section 40A(3).
You are not paying for allowances or expenduture, it is a transfer for operation of company so it is not deductible.
Yes, they can transfer more than Rs. 20000/- to its branch office without any aplicability of provision of Section 40A(3).
You are not paying for allowances or expenduture, it is a transfer for operation of company so it is not deductible.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
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
