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Query regarding section 40A(3)
Say an assessee has two branches. The individual electricity bills of both the branches does not exceed Rs. 10000 for a month but if taken in aggregate, it is greater than Rs. 10000. Both the bills are paid on the same day by cash. Will it be disallowed?
Replies (1)
No, the payment will not be disallowed
As Rule 6DD of Income Tax Act, 1961 allows payment made to Govt. in cash and Electricity Deptt. is a limb of state govt.
As Rule 6DD of Income Tax Act, 1961 allows payment made to Govt. in cash and Electricity Deptt. is a limb of state govt.
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