Please Help: Cash Payments to Transporters
Posted Date : 12-Sep-2011 , 11:57:10 am | Posted By: Vandana
Category :
Income Tax | Answers :
2|
Comments :
0| Hits: 2809
|
|
whether 20000 provisions now applicable on transporters whether we can make payment more then 20000 in cash to transporters |
 |
|
|
Answers:
|
 Answer by: Ashish Karundia |
| Dear Vandana,
Payments to transporter can be made in cash of more than Rs. 20,000 but upto Rs. 35,000 and the same would not be disallowed u/s 40A(3). In this regard, you can refer Second Proviso to Section 40A(3A)wherein the limit of Rs. 20,000 was increased to Rs. 35,000 w.e.f. 01.10.2009.
Hope this suffice your query.
|
| Answer by: Ketan Samdani |
| The limit for transporters is Rs. 35000
|
|
|
|
|
|
|
