Sec 40(A)(3) applicable or nt???urgent
This query is : Resolved
25 February 2011
Hello friendz
Can we make payment to transporter in following manner:
01/12/2010 Rs. 25000/- cash Gr.No.101
01/12/2010 Rs. 28000/- cash Gr.no.102
Here payment is given to same transporter only
In this case material is coming in 2-3 trucks from same transporter and we make payments to them in cash but there GR.No.is different for each truck
plz ans it
thx
Can we make payment to transporter in following manner:
01/12/2010 Rs. 25000/- cash Gr.No.101
01/12/2010 Rs. 28000/- cash Gr.no.102
Here payment is given to same transporter only
In this case material is coming in 2-3 trucks from same transporter and we make payments to them in cash but there GR.No.is different for each truck
plz ans it
thx
25 February 2011
Since the limit applicable to the payments to transporters is 35000/ and both GRs are constituting separate expenditures, you can make payment in cash.
26 February 2011
no dis-allowance for your query.
you can pay upto 35000/- single transaction.
you can pay upto 35000/- single transaction.
26 February 2011
Pl refer question and answer no.9 in CBDT Circular 715 dated 08/08/1995 in www.incometaxindia.gov.in
26 February 2011
Yes. Be cautious and keep proper records for incoming material.
26 February 2011
as per circualr no 715 dt 8-8-95
Question 9 : In case of payments to transporters, can each GR be said to be a separate contract, even though payments for several GRs are made under one bill ?
Answer : Normally, each GR can be said to be a separate contract, if the goods are transported at one time. But if the goods are transported continuously in pursuance of a contract for a specif¬ic period or quantity, each GR will not be a separate contract and all GRs relating to that period or quantity will be aggregat¬ed for the purpose of the TDS.
So in your case it is continuous nature so it will be disallowed
do one thing make both cash voucher on separate date.
Question 9 : In case of payments to transporters, can each GR be said to be a separate contract, even though payments for several GRs are made under one bill ?
Answer : Normally, each GR can be said to be a separate contract, if the goods are transported at one time. But if the goods are transported continuously in pursuance of a contract for a specif¬ic period or quantity, each GR will not be a separate contract and all GRs relating to that period or quantity will be aggregat¬ed for the purpose of the TDS.
So in your case it is continuous nature so it will be disallowed
do one thing make both cash voucher on separate date.
27 February 2011
Each driver / owner of the delivering lorry can demand that he needs freight in cash before unloading the material and would not accept any cheque in lieu thereof
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