Maximum cash expenses that can be claimed

325 views 2 replies

I'm a landowner who gave land for development in consideration for 28 flats. Now I'm selling those 28 flats. Please let me know how much maximum cash expenses I can claim against income. I have showed 20000 per day cash expenses in various category like advertisement, salaries to staff , rent , refreshment expenses, conveyance, telephone expenses , sales expenses , printing and stationary, conveyance , electricity charges and repairs and maintenance..Made sure that single party expense per day not exceeding 10000..Will that b OK to claim maximum cash expenses other than the regular cheque expenses. 

Replies (2)

Yes you can claim the amount as expense as the amount paid had not exceeded Rs. 10,000 per day per person. However, to avoid future disturbances try to check the same with other party books of accounts and if they had gave you any bill or receipt then try to keep the entries with sync with those bills and receipts.

This is as per Sec 40 A (3)

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
ARTICLESHIP 29 June 2026
Article Assistant

Alvino Consultancy LLP

Mumbai

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details