one of the tax audit it person new construction of commercial building started for 22-23.
some construction expenses through on bank online mode
some construction expenses through on cash mode (rs:10,000 limit above) paid.
question:
assessess cash mode payment expenses including or excluded for construction account.
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Cash expenses (rs:10,000 above limit) include construction account
Replies (2)
Though it is included in the accounts; but disallowed for assessment of profits or gains under head PGBP as per sec. 40A(3) & 40A(3A) of IT act. Auditor has to report the same in Form 3CA-3CD.
Make payment less than rs.10000.
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