Form 3cd
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2011
With refence to clause no. 18 of form 3CD of A.Y. 2011-12. is uncle's son also covered in related party for section 40A(2B)
07 August 2011
Amounts not deductible in respect of payment to Relatives [Sec. 40A(2)]
As per the provisions of this section any payment made by an assessee to any of his ‘Relatives’ in respect of any expenditure is disallowable to the extent it is considered excessive, or unreasonable, having regard to the market value of Goods or Services or Facilities etc.
Here the following definitions need to be considered for better understanding:
‘Relative’ is defined to include Husband, Wife, Brother, Sister or any other Lineal Ascendant or Descendant;
So uncle's son is not covered under this section,
As per the provisions of this section any payment made by an assessee to any of his ‘Relatives’ in respect of any expenditure is disallowable to the extent it is considered excessive, or unreasonable, having regard to the market value of Goods or Services or Facilities etc.
Here the following definitions need to be considered for better understanding:
‘Relative’ is defined to include Husband, Wife, Brother, Sister or any other Lineal Ascendant or Descendant;
So uncle's son is not covered under this section,
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
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Regarding ITR filing with more value than showing in AIS/TIS
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- IT returns for fresh job holders
- Grand in aid
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Banking Related Issue
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
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
