Cai I pay in Cash more than inr 20,000/- towards repayment of Share application money?
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Section 40a(3) cash payment morethan rs 20000/-
Replies (2)
Hi Phani,Even if you pay the same by cheque,you won't be allowed to claim the same as business expense.
Absolutely, this is not a business expenses, only a refund of excess money u have took and also as per sec. 36 to 37 there is no such provision is there for this. So, u can't calim deduction for such refund as business expenses.
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