Maximum cash expenses that can be claimed

327 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
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details