CASH RECEIVED FROM DIRECTORS AND PARTNERS
This query is : Resolved
14 July 2009
DEAR SIR/MADAM
CASH RECEIVED IN COMPANY BY ITS DIRECTORS OVER 20000 IS ALLOWABLE OR ITS DISALLOWABLE
CASH RECEIVED FROM PARTNERS IN PARTNERSHIP FIRM I.E. LIKE CAPITAL INTRODUCED IS OVER 20000 IS ALLOWABLE OR ITS DISALLOWABLE
CASH RECEIVED BY PARTNER IN TO FIRM ITS MEAN- CAPITAL INTRODUED
CASH RECEIVED FROM DIRECTORS IN COMPANY IS WHAT I.E. LOAN FROM DIRECTORS OR SUNDRY CREDITOR. PLEASE TELL
THANKS IN ADVANCE
CASH RECEIVED IN COMPANY BY ITS DIRECTORS OVER 20000 IS ALLOWABLE OR ITS DISALLOWABLE
CASH RECEIVED FROM PARTNERS IN PARTNERSHIP FIRM I.E. LIKE CAPITAL INTRODUCED IS OVER 20000 IS ALLOWABLE OR ITS DISALLOWABLE
CASH RECEIVED BY PARTNER IN TO FIRM ITS MEAN- CAPITAL INTRODUED
CASH RECEIVED FROM DIRECTORS IN COMPANY IS WHAT I.E. LOAN FROM DIRECTORS OR SUNDRY CREDITOR. PLEASE TELL
THANKS IN ADVANCE
Abhishek Mohta
(Expert)
16 July 2009
Sec 40A(3) describes payment of expenses by the company in cash for more than Rs. 20,000/-. In the cases cited above the company and the firm are not paying the amount rather they are receiving the same. So no question of disallowance comes into picture.
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