section 40A(3)
This query is : Resolved
24 February 2011
Whether more then 20000 cash paid on sunday when bank close, is disallowed under section 40A(3)read with Role 6DD.
So plz define me whether sunday is include in Banking Holiday as per Rule 6DD.
Pzl Answer this question.................
So plz define me whether sunday is include in Banking Holiday as per Rule 6DD.
Pzl Answer this question.................
24 February 2011
In CIT v K.K.S. K Leather Processor P. Ltd.[2007] 292 ITR 669(Mad.) it was held that payments made on a day on which the banks are closed either on account of holiday or strike, shall not come within the ambit of disallowance u/s 40A(3).
So Sunday is not included.
So Sunday is not included.
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