Disallowance under sec 40 (A) (3)
This query is : Resolved
10 September 2008
Is Electricity Bill of Rs 57120 paid in cash to MSED on a single day is disallowable under section 40 a 3
10 September 2008
It should be allowable, but why paid in cash, any specific reason, then it should be as provided in Rule 6 DD j
10 September 2008
They has paid on the last date and to avoid penalty, payment was made on cash
13 September 2008
Electricity is an expenditure allowable as deduction U/s 28 to 38 of the I.T.Act. Section 40A(3)provides for disallowance of such expenditure paid in cash exceeding Rs.20000/- and payment of Electricity is not excluded under Rule-6DD. Considering your facts, the AO may exercise his discretion in not making any disallowance considering the business prudence involved in to it. However in such case you may have fair chance of winning the case in Appeal.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- ITR validation error - Balance sheet is not filled
- Bank Accounts in Balance Sheet for ITR 3
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Eway bill for machinery reparing
- Query regarding TDS on EPFO Higher Pension Arrears*
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
