Whether a milk producing cooperative society can pay for a particular expense exceeding Rs. 10000/- in cash in a day? Please confirm.
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Disallowance u/s 40a(3)
Replies (4)
it is disallowed in income tax.
The cooperative society enjoys deduction u/s 80P on its profits. But if the some expenses are disallowed u/s 40A(3) and 40(a)(ia), then the same will be taxable or deduction u/s 80P will be allowed on those also.
The cooperative society enjoys deduction u/s 80P on its profits. But if the some expenses are disallowed u/s 40A(3) and 40(a)(ia), then the same will be taxable or deduction u/s 80P will be allowed on those also.
The cooperative society enjoys deduction u/s 80P on its profits. But if the some expenses are disallowed u/s 40A(3) and 40(a)(ia), then the same will be taxable or deduction u/s 80P will be allowed on those also.
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