Expenses made in Cash for Presumptive Income

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74 Points Posted on 15 April 2019
If we have opted for Sec.44AD then can we make Payment of more than ₹10000 upto ₹20000/- for goods purchased.
Does Sec.40A will be applicable?
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On 15 April 2019 at 13:41 Report
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SEO Sai Gr. Hosp.
212556 Points Posted on 15 April 2019

Not possible to disallow WITHOUT BOOKS OF ACCOUNTS!!!

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On 15 April 2019 at 21:06
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74 Points Posted on 15 April 2019
If Payment made by Bearer Cheque then it will show on Bank Statement.
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On 15 April 2019 at 21:12
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SEO Sai Gr. Hosp.
212556 Points Posted on 16 April 2019

So what, assessee do not claim it as deduction. Deductions are allowed on presumptive basis, so no question of dis-allowance.

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On 16 April 2019 at 10:24
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74 Points Posted on 16 April 2019
Even if he make Payment of more than ₹50000/- but less than ₹2 lac in Cash?
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On 16 April 2019 at 10:41

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