Section 40a(3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 May 2012
Can donation be paid in excess of RS.20000 in a single day
18 May 2012
Section 40A(3) is applicable to expenses claimed under the head Income from Business or Profession.
Donation is not allowed as a deduction while computing business income.
Accordingly Section 40A(3) does not aplly to donations.
However, Section 80G has been amended by Finance Bill 2012 to provide that donations in excess of Rs. 10,000 shall have to be paid in any mode other than cash.
Donation is not allowed as a deduction while computing business income.
Accordingly Section 40A(3) does not aplly to donations.
However, Section 80G has been amended by Finance Bill 2012 to provide that donations in excess of Rs. 10,000 shall have to be paid in any mode other than cash.
18 May 2012
any expenditure paid in cash is disallowed.
donation is not expenditure.
so it does not matter.
donation is not expenditure.
so it does not matter.
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2012
Ok thanx for helping me to come out of this problem.
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