Rent payment in cash 20000/-
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 September 2013
Dear All,
I want to know the rule of payment for Rent 20000/- is valid or not in single transaction.
Please provide me full detail.
I want to know the rule of payment for Rent 20000/- is valid or not in single transaction.
Please provide me full detail.
19 September 2013
As per the section 40A(3) payment upto Rs.20000 is acceptable but more than Rs.20000 is not acceptable. So in your case the transaction is valid and allowed as expenditure.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
11 October 2013
yes up to 20000 is allowed for single cash payment
11 October 2013
Agree with Experts,
As per Sec 40{a}3 of the IT Act..
Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds {20000} twenty thousand rupees, no deduction shall be allowed in respect of such expenditure.
As per Sec 40{a}3 of the IT Act..
Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds {20000} twenty thousand rupees, no deduction shall be allowed in respect of such expenditure.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
