Sec 40a(3)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2014
A new provision payment in CASH by any one MADE upto Rs 35000/-will be allowed under INCOME TAX ACT.

Under what circumstances or in which case the disallowance over Rs 35000/-paid in CASH is allowed.

Is it allowed in all cases of Transportation of Goods made from seller to purchaser paid the Freight more upto Rs 35000/- will be allowed instead of Rs 20000/-paid in CASH.

CA-CWA RAVI

CA-CWA RAVI (Expert)
Follow

13 January 2014 any single time payment exceeding Rupees 20000 is disallowed in income tax except the payment made to transporters where the cut off limit is 35000.
every payment made to transporter over and above 35000 in each time is disallowed in total.
the payment allowed below 35000 should be for the freight on account of transportation of goods.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Prashant Kotecha

Akhilesh Chandra

Vasudevan Santhanam

CA Saurabh Jadhav

shobi H

Subscribe Now

Sec 40a(3)

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

CA Final

GST CONSULTANT

GST CONSULTANCY

Accountant