Sec. 40 a(3)
This query is : Resolved
10 January 2012
Whether sec. 40 A(3)will be attracted if payment of expenditure is made by depositing an amount of Rs. 40000 in a bank account of a creditor?
10 January 2012
If cash is deposited in the bank account of the creditor, then Section 40A(3) shall be attracted, since the payment has been made otherwise than by an account payee cheque.
10 January 2012
You can break the transaction into the foll. 2 transactions..
One-Give cash to your creditor..
Two-The creditor deposits it into his bank..
Clearly because of the first transaction, 40A(3) shall be attracted..
One-Give cash to your creditor..
Two-The creditor deposits it into his bank..
Clearly because of the first transaction, 40A(3) shall be attracted..
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- GST ON DAMAGED GOODS
- Last year TDS Claim
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
