Payment More than 20,000/-
This query is : Resolved
28 June 2011
i have incurred expense of building repairs contract of Rs. 100,000/-.... And i have made payments in 5 equal installments of Rs. 20,000/- in CASH in five different days... As am not crossing 20,000/- limit in a day, is this expense allowable.... And does it make any difference if i have purchased goods of Rs. 100,000/-?????
DEEP SINGH TOMAR
(Expert)
28 June 2011
Hello friend
The amount paid wihtout TDS deducted will not allowed as expenses in case of building repairs
Purchase of goods expenses allowable in this case
The amount paid wihtout TDS deducted will not allowed as expenses in case of building repairs
Purchase of goods expenses allowable in this case
28 June 2011
ya but does it make any difference that if their is only one single bill of goods purchased....
DEEP SINGH TOMAR
(Expert)
28 June 2011
There is no difference
30 June 2011
But the contractor have raised only one single bill... still its d same
DEEP SINGH TOMAR
(Expert)
30 June 2011
tds has to deduct bill book or payment whichever is earlier, still tds will same in this case
30 June 2011
m not concerned about TDS... that toh i will deduct.. but as m paying 100,000 in cash is it allowable....
DEEP SINGH TOMAR
(Expert)
30 June 2011
100% expenses disallowable
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