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Sec. 40a(3)(a)

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 June 2014 What is the Tax implication of this transaction for both buyer & seller- A seller issue a cash bill of Rs.50000/- , receive one time payment of this amount and account for the same.Also what is the answer, if the buyer is a farmer?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
02 June 2014 in case of farmers Rul 6DD will apply and no disallowance should happen.

but where Rule 6DD is unable to save you, buyer wont get deduction for the expense.
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