Thanks for all who have given clarification about the said section. But lot of people are telling about fixed assets only. I am asking about purchase of raw materials. Whether 20% will be disallowed when we make payment by crossed cheques. Since companies are making payment by account payee cheques. Whether account payee cheques and crossed cheques are the same. Please clarify this.
Thanks in advance
Interactive Media Pvt Ltd.
New Delhi
CA Inter
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BANSAL YOGESH AND CO
Gautam Budh Nagar
B.Com
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Jawahar and Associates Chartered Accountants
Hyderabad
CA Inter
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CAclubindia
Pro
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