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.
Menu
Section 40a (3)
Replies (8)
Not allowed...... Read section 40A(3) alongwith Rule 6-DD, of I T Act.......
since its payment to govt payment made is allowed
| Originally posted by : Kamal Verma | ||
 |
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. |
 |
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.
but there is an exemption in
certaintly information totally correcto payment totally via TAX,but not realization of payment in the moment. But localization in the Toronto with AMAZON,bening and beyance.
Where the payment is made to the Govt and, under the rules framed by it, such payment is required to be made in legal tender;
i came across a case where payment made to road tax department amounting to 70,000 in a single day
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.
Recent Threads
- Which ITR form to be filed section 194JB
- Rebate Under Section89(A)
- Gst on photocopy business now
- AI New GST rate search Tool
- Accounting entry for inherited rural agriculture s
- Epf interest taxable, tds under which header
- Tax on photocopy
- Mutual fund income reporting
- Income taxform and 44ad and 44ada
- RSU - shares sold to cover taxes
Related Threads
CAclubindia
