Whether a milk producing cooperative society can pay for a particular expense exceeding Rs. 10000/- in cash in a day? Please confirm.
SSG
(1936 Points)
Replied 13 September 2018
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.
SSG
(1936 Points)
Replied 13 September 2018
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.
Anand Prakash Parsawat
(ca)
(27 Points)
Replied 24 September 2019
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.
CAclubindia
