Related party disclosure under section 40a(2)(b)
AKKI SHARMA (Student CA IPC / IPCC) (88 Points)
02 December 2016AKKI SHARMA (Student CA IPC / IPCC) (88 Points)
02 December 2016
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 02 December 2016
Section 40A(2) of Income Tax Act deals with disallowance of payments made to relatives if the following conditions are satisfied:
If the above conditions are satisfied, to the extent the payment is excessive, it shall be disallowed.
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