Cash payment in excess of 20,000/-
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 January 2011
Dear Sir,
Our Company is deals in providing tentage material on hire basis for Govt Functions.
It also provide Generator and purchase diesel and make payment in excess of Rs. 20,000/- in respect of diesel. is it allowed under income tax act.
thanks in advance
Our Company is deals in providing tentage material on hire basis for Govt Functions.
It also provide Generator and purchase diesel and make payment in excess of Rs. 20,000/- in respect of diesel. is it allowed under income tax act.
thanks in advance
Guest
Guest
(Expert)
18 January 2011
Cash payment exceeding Rs.20000/- for purchase of diesel will not be allowed U/s 40A(3).
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