Rules for accounts of statutory body organisation
This query is : Resolved
Querist : Anonymous
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
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
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.
But the section is 40A(3) and Rule 6DD specifies cases to which sec 40A(3) not applicable.
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