Section 40a(2)(b)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 August 2011
I HAVE A QUERY REGARDING DISCLOSURE OF "PAYMENTS MADE TO RELATIVES".
I HAVE MADE PURCHASE FROM MY RELATIVE, AND MAKE SOME PAYMENT IN THIS RESPECT.
THEN WHAT I HAVE TO REPORT IN 3CD CLAUSE NO. 18. RELATED TO SECTION 40A(2)(b), PURCHASE AMOUNT OR PAYMENT AMOUNT.?
I HAVE A QUERY REGARDING DISCLOSURE OF "PAYMENTS MADE TO RELATIVES".
I HAVE MADE PURCHASE FROM MY RELATIVE, AND MAKE SOME PAYMENT IN THIS RESPECT.
THEN WHAT I HAVE TO REPORT IN 3CD CLAUSE NO. 18. RELATED TO SECTION 40A(2)(b), PURCHASE AMOUNT OR PAYMENT AMOUNT.?
19 August 2011
The amount to be shown ( to be disallowed in tax computation also) is the excess, if any, between the fair market value of the goods and the purchase value.
Message likes :
1 times
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
- Oct 2025 Invoices
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
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
