Disallowance Under Section 40A(3)
This query is : Resolved
02 September 2008
My Client Deposited CASH Rs. 50,000, Rs. 80,000 and Rs. 1,00,000 on different dates into his creditors bank account using the core banking facility. Is this amount of payment to the creditors is entitled for disallowance under section 40A(3).
02 September 2008
yes,it is disallowed if it is not paid through account payee cheque or bank draft or through e-payment.
03 September 2008
Yes, I agree with Mr. Jitender; It is disallowable.
07 September 2008
NO. PLEASE REFER SRI RENUKESWARA RICE MILLS Vs ITO (2005) 278 ITR 77 (Bang-Tri)
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
