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40(A)(3) (state undertaking)
cash payment in excess of 10,000 to maharashtra state electricity board ( government company) , do we required to disallow u/s 40(A)(3)??
Replies (2)
Payment of electricity bills to MSEB is the payment made to the government for the purpose of section 40A(3) of the Income-tax Act and therefore said section 40A(3) cannot be invoked.
Expenses which does not fall within the purview
of Sec 40(A)(3)
1..wages
2. state taxes
3. cess
4. account payee cheque oe demand draft.
5. 10000 was revised to 20000.
of Sec 40(A)(3)
1..wages
2. state taxes
3. cess
4. account payee cheque oe demand draft.
5. 10000 was revised to 20000.
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