Sec 40a (3)
This query is : Resolved
10 May 2012
fact of the case
one bill rs 12500
Second bill Rs 12500
whole payment of Rs 25000 was made on single day in cash.
deduction will be allowed or not ?
one bill rs 12500
Second bill Rs 12500
whole payment of Rs 25000 was made on single day in cash.
deduction will be allowed or not ?
10 May 2012
Deduction will not allowed for the entire expenditure if the aggregate of payment made to a person in day in cash.
10 May 2012
If bill dates are different then payment shall be allowed otherwise disallowed
10 May 2012
If the bills are different, even if the payment made to a person in a single day exceeds Rs. 20,000, then it is tax deductible.
10 May 2012
if bills dates are same,then it will be allowed or not ?
10 May 2012
No it will not be allowed as the payment is made in excess of Rs. 20000 per day in cash.
Message likes :
1 times
10 May 2012
Even if bill dates are same, it will be allowed. But the condition is bills has to be different.
10 May 2012
If the payment is made in a day then it will be disallowed.
Earlier it was bill wise, which was amended lateron to make it per day.
Earlier it was bill wise, which was amended lateron to make it per day.
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
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- 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
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
