Rs. 20,000 Cash Payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2010
If I have to Pay Rs. 100000/- to Cash Purchase of any product on Cash memo in a single day.
or
If I Paid expense of fuel,oil and other lubricant of rs. 50,000/- on cash memo in a single day.
which amount will be disallowed as per IT Act.
Pls explain simply.
or
If I Paid expense of fuel,oil and other lubricant of rs. 50,000/- on cash memo in a single day.
which amount will be disallowed as per IT Act.
Pls explain simply.
27 March 2010
both expense are disallow as per IT act.
as per sec 40A(3) any payment more then 20000 on a single day disallow for any type of exp. cover u/s 30 to 37.
as per sec 40A(3) any payment more then 20000 on a single day disallow for any type of exp. cover u/s 30 to 37.
27 March 2010
If you had paid Rs 200000/- then disallowance shall be applicable on whole the amount
This is will not applicable for acuisition of Asset.
This is will not applicable for acuisition of Asset.
27 March 2010
Agree with expert
27 March 2010
agree
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