payment in cash in excess of 20000
This query is : Resolved
08 February 2009
i have made cash expenditure of rs. 35000/- as per details given below
Rs. 15000 on 01/01/08
Rs. 20000 on 01/01/08
will this be allowed under the act?
i have made cash expenditure of rs. 35000/- as per details given below
Rs. 15000 on 01/01/08
Rs. 20000 on 01/01/08
will this be allowed under the act?
08 February 2009
If you have made the above payment to a single person then the entire expenditure will be disallowed as per 40A(3) of the income tax as ammended recently.
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
- CLOSING STOCK QUERY
- Sale of Mutual Funds In Diffirent Financial Years
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- DUE DATE FOR ITR FILING
- Residential status of non resident
- Reporting in TDS return
- Traces submitting correction statement error
- Short Term Gain Reporting ITR
- Taxation on Old jewellery sold
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
