Dear Expert,
Kindly advise wheter payment made to Paschimanchal Vidyut Vitran Nigam Limited in excess of Rs. 20000 in cash is allowed u/s 40A(3) of Income Tax Act.
Kamal Verma (Financial advisor) (578 Points)
25 August 2017Dear Expert,
Kindly advise wheter payment made to Paschimanchal Vidyut Vitran Nigam Limited in excess of Rs. 20000 in cash is allowed u/s 40A(3) of Income Tax Act.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160848 Points)
Replied 25 August 2017
Not allowed...... Read section 40A(3) alongwith Rule 6-DD, of I T Act.......
amar delo
(article assistant)
(115 Points)
Replied 25 August 2017
Dixit
(CA Final)
(2405 Points)
Replied 25 August 2017
| Originally posted by : Kamal Verma | ||
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Dear Expert, Kindly advise wheter payment made to Paschimanchal Vidyut Vitran Nigam Limited in excess of Rs. 20000 in cash is allowed u/s 40A(3) of Income Tax Act. |
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Agree With Dhiraj Sir,
And also one thing I would like to say that at the time of electricity bill payment they do not have a power to accept more then Rs. 10000 in cash. If more than Rs. 10000 Payment then they can accept only cheque or any other electronic mode.
Antônia Rios
(8 Points)
Replied 25 August 2017
amar delo
(article assistant)
(115 Points)
Replied 25 August 2017
amar delo
(article assistant)
(115 Points)
Replied 25 August 2017
CA Nipun Goyal
(Practicing Chartered Accountant)
(159 Points)
Replied 25 August 2017
As per section 40A (3), payment in excess of Rs. 20000 is disallowed under Income from Business and Profession.
Therefore, such payment will be disallowed.
CAclubindia
