Sec. 40A(3) of I.Tax Act 1961|CASANSAAR 4567

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Please Help: Sec. 40A(3) of I.Tax Act 1961

Posted Date : 02-Sep-2014 , 11:51:48 pm | Posted By: Harshit

Category : Income Tax | Answers : 1| Comments : 0| Hits: 272

Will payment made to KESCO (Electricity Co.) for an amount exceeding Rs. 20,000/- in cash, would be allowed?

Answers:

Answer by: Shankygarg

It will be Dis-allowed because payment is more than Rs.20000 & for electricity exp. payment can be made through Cheque.

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