Payment under sec 40a(3) above rs.20000 for wages
This query is : Resolved
12 September 2013
If a person refuses to take payment for his wages in cheque, as he is not having a bank a/c, and hence the company pays the amount in cash, then will the payment be still disallowed in income tax u/s 40a(3) ??
12 September 2013
yes disallowed....
12 September 2013
It is disallowed
.
.
however it is allowed where amount paid on a day when bank was not working on date of payment and if payment is made in village where no bank is available
Refer Rule 6DD Exceptions,,your case not covered,,hence it is disallowed
.
.
however it is allowed where amount paid on a day when bank was not working on date of payment and if payment is made in village where no bank is available
Refer Rule 6DD Exceptions,,your case not covered,,hence it is disallowed
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