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Rules for accounts of statutory body organisation

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 October 2013 Respected Sir

As per Income Tax Rule 6DD, Cash payment can be made upto Rs.20000=00 for one transaction if cash pyt exceeds Rs.20000=00 then it will be disallowed.

Is the same rule is applicable to Statutory Body also.

Can you suggest any book to refer Accounts of Statutory Body?

Thanks
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
22 October 2013 Yes it is applicable.
But the section is 40A(3) and Rule 6DD specifies cases to which sec 40A(3) not applicable.
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