Payment made to contractor
This query is : Open
24 February 2015
dear all
payment made to contractor for rs. 50000 in cash is allowable or not?
its urgent pls.
thanks
24 February 2015
Dear Kumar, Greetings, Good Evening
if the payment is made to the contractor on the same day as a payment for 1 bill raised of Rs 50000, then it will attract the provision of 40A(3) and would be disallowed
If it is paid on different dates with none of the payment exceeding Rs 20000, then it would be allowed.
but do remember T.D.S would attract if any of the bills is more than 30000Rs
Please send any query if u have
if the payment is made to the contractor on the same day as a payment for 1 bill raised of Rs 50000, then it will attract the provision of 40A(3) and would be disallowed
If it is paid on different dates with none of the payment exceeding Rs 20000, then it would be allowed.
but do remember T.D.S would attract if any of the bills is more than 30000Rs
Please send any query if u have
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
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Journal entry of busniess expenses
- Cash balance limit and property purchases limit
- NRI starting business in India
- Bank details not Visible on Traces Portal
- TDS ON EMAIL DOMAIN SERVICE BILL
- FCRA 6 E- Intimation
- Invertaded duty struture
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
