Disallowance u/s 40a(3)
This query is : Resolved
Krishna Murthy
(Querist)
08 October 2012
Are payments made to Electricity Department for Electricity Consumption and payments made to Agriculture Market Committee as cess for purchase of Agriculture produce @ 1% on purchase value of produce attract 40A(3) disallowance.
Pankaj Gupta
(Expert)
08 October 2012
Payment of electricity bill will be disallowed u/s 40A(3) as it is not a payment to government.
Sec 40A(3) will not be applicable if the payment is made to primary agriculture credit society.
Sec 40A(3) will not be applicable if the payment is made to primary agriculture credit society.
Dintakurthi Tirumala
(Expert)
08 October 2012
As per Rule 6DD The above said payments are exempted to Section 40A(3).
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