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About sec 40 a(3) and sec 269 ss
While doing an audit of religious trust, who has taken 12A registration.
As the trust has exemption benifits,
Should the payments above 20000 be made in other forms than cash?
As the matter of disallowance doesn't arise. Or is it statutory that all cash payments above20000 should be made in anyother form other than cash?
Replies (2)
yes cash payment in excess of specified limits shud not be made in cash. if it does,then it will get added to the taxable income even though trust is claiming tax benefit and it will need to pay tax
thank u sir,,,,
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