Payment made in excees 20k in same day

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 February 2013 Dear Sir

One of the our client is received a bill Rs 21,000/- and he paid Rs 18,900 in cash and deduct Tds Rs 2100 its allowed as per income tax or not


Thanks

25 February 2013 Allowed paymant up to 20000

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 February 2013 Sir
after deduction its come below 20k its also allowed not effect the TDS amount

26 February 2013 irrespective of any number of transactions, where the amount does not exceed the prescribed amount in each transaction, the rigours of section 40A (3) will not apply.


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