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Section 40 a 3 overrides section 40 a 2 and sec 40 a i

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Industry
138 Points Joined April 2012
Does section 40 a 3 overrides section 40 a 2 and sec 40 a i
situation- rent paid to related party 5 lakhs .no tds deducted .fmv of rent is 3 lakhs.
50 % of rent paid in cash
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On 03 May 2021 at 13:35 Report
Replies (10)
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Tax consultant
5895 Points Joined September 2020
Can you little more clear
but it's sometimes depends upon the AO
how he understands the situation
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On 03 May 2021 at 14:03
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Industry
138 Points Joined April 2012
According to given situation how much will b disallowance to be made in computation
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On 03 May 2021 at 14:05
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Chartered Accountant
24588 Points Joined November 2019
Disallowance will be attracted as TDS has not been deducted
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On 03 May 2021 at 15:41
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Industry
138 Points Joined April 2012
Amount of disallowance and under which section
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On 03 May 2021 at 16:33
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Practice
1361 Points Joined June 2019
Disallowance under sec 40(A)(2) depends upon AO. In current situation under 40(A)(3) 2.5L should be disallowed.
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On 03 May 2021 at 16:57
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Industry
138 Points Joined April 2012
What about tds disallowance
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On 03 May 2021 at 17:00
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Practice
1361 Points Joined June 2019
Yeah 30% of rent paid through bank should also be disallowed
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On 03 May 2021 at 17:12
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Industry
138 Points Joined April 2012
But in computation of total income what amounts needs to be added .kindly give details
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On 03 May 2021 at 17:54
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Practice
1361 Points Joined June 2019
I think disallowance under both the section will be done. 75k and 2.5L.
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On 03 May 2021 at 18:10
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Chartered Accountant
24588 Points Joined November 2019
30% should be disallowed
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On 03 May 2021 at 18:46

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