banner_ad

Sec 40a(3)

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 March 2015 hELLO sIR, I had a doubt in Sec 40A(3) for a Gold dealer. Suppose there is a Gold dealer who sells Ornaments worth Rs. 85000/- and the Customer Pays in This Manner Rs. 40,000/- by Old Ornaments and Rest By A/c Payee Cheque.The Whether Sec 40A(3) is Attracted for the payment received in form of Old Ornaments????? Will that portion be Disallowed???
Profile Image

CA. YASH DILIPBHAI HARIYANI

Profile Image

CA. YASH DILIPBHAI HARIYANI (Querist)
05 March 2015 Hello Sir, I am asking about the Purchasing Dealer who is Paying the above transaction through Old Ornaments. i.e. Both are Gold Dealers.
Profile Image

CA. YASH DILIPBHAI HARIYANI

Profile Image

CA. YASH DILIPBHAI HARIYANI (Querist)
05 March 2015 Hello Sir, I am asking about the Purchasing Dealer who is Paying the above transaction through Old Ornaments. i.e. Both are Gold Dealers.
Profile Image

CA. YASH DILIPBHAI HARIYANI

Profile Image

CA. YASH DILIPBHAI HARIYANI (Querist)
05 March 2015 Hello Sir, I am asking about the Purchasing Dealer who is Paying the above transaction through Old Ornaments. i.e. Both are Gold Dealers.
Profile Image

CA. Shashi Kumar Gupta

Profile Image

CA. Shashi Kumar Gupta (Expert)
05 March 2015 No disallowance.. Section 40A(3) won't attract. Above case is covered under Rule 6DD(d) of Income Tax Rules, 1962.
Profile Image

CA. YASH DILIPBHAI HARIYANI

Profile Image

CA. YASH DILIPBHAI HARIYANI (Querist)
16 March 2015 Thanks Very much Sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details