Menu
Cash Payment for vehicle insurance from Private Company
Whether Cash Payment to purchase vehicle insurance policy exceeding Rs 40000 is allowed under Income Tax Law ?
Replies (4)
Quick Summary
Cash Disallowance Under Section 40A(3) will be attracted. Such expense will not be allowed.
No it will be disallowed as cash payment exceeds 10000 rupees
It will be disallowed
You may still claim the expense.
because it is genuine bona fide expense
because it is genuine bona fide expense
Recent Topics :
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
Related Topics :
CAclubindia
