Disallowance u/s 40a(3) and 40(a)
This query is : Resolved
vijay mariyala
(Querist)
23 August 2016
Hii all,
If the expense say professional fee paid of Rs.90,000 through cash then it is disallowed under 40A(3) or 40(a)...??
Thanks,
Vijay Mariyala
If the expense say professional fee paid of Rs.90,000 through cash then it is disallowed under 40A(3) or 40(a)...??
Thanks,
Vijay Mariyala
Yogesh Agarwal
(Expert)
23 August 2016
I guess your query is incomplete but even then please note the amount shall be disallowed u/s 40A(3)..
vijay mariyala
(Querist)
24 August 2016
Hi...
I meant that if the professional fees paid through cash of Rs. 90000 and also no tds has been deducted, then is it disallowed as per sec 40A(3) as payment exceeding Rs. 20000 or as per 40a(ia) for non deduction of tds...
I meant that if the professional fees paid through cash of Rs. 90000 and also no tds has been deducted, then is it disallowed as per sec 40A(3) as payment exceeding Rs. 20000 or as per 40a(ia) for non deduction of tds...
Yogesh Agarwal
(Expert)
24 August 2016
Disallowance shall be made u/s 40A(3) and consequence of non deduction of TDS shall be initiated like interest, penalty etc..
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