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deduction
An assessee has made cash payments of Rs. 19,000/- to a person in the forenoon of 1.9.2014. In the afternoon of the same day he again made a cash payment of Rs. 10,000/- to the same person. The payments were made towards freight charges to transport. The deduction allowable is?
Replies (2)
Yes. The Expenses and the Payment is allowable.
Where payment is made for plying, hiring or leasing goods carriages, cash payment is allowed upto Rs. 35,000/- per person, per day instead of Rs. 10,000 applicable in all other cases. Second proviso to Sec. 40A(3A)
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