Disallowance u/s 40 a (3) of income tax act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 September 2013
My query is whether section 40A(3) is applicable to Charitable trusts?For instance if a charitable Trust makes an expenditure by paying cash exceeding Rs.20000, then will it be allowed for Deduction?
23 September 2013
Section 40 doesn't apply to charitable trusts registered under 12A.
Please refer to Mahatma Gandhi Seva Mandir V.
Deputy Director of Income-tax (E) 1(2), Mumbai (IT APPEAL NO.4138 (MUM.) OF 2011 -[ASSESSMENT YEAR 2007-08]
Please refer to Mahatma Gandhi Seva Mandir V.
Deputy Director of Income-tax (E) 1(2), Mumbai (IT APPEAL NO.4138 (MUM.) OF 2011 -[ASSESSMENT YEAR 2007-08]
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