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if i purchase diseal from petrol pump amounting to rs. 120000 and payment made in cash. is this amount to disallowance
Replies (3)
Yes, this will be disallowed during your tax audit.
is the amt of 120000 paid at one time on a single day or in parts. if paid on a single day in whole then it will be disallowed.
If you made this payments in different days you no need to disallow such expense
Other wise all expense paid above 10,000 is disallowed for this period.
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