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Cash above 20000

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(Querist)
14 December 2010 Cash payment above 20000/- for purchase agriculture product from farmer does its liable for incometax
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
14 December 2010 THE SAME AMOUNT WILL NOT BE DISAALOWED.AS 40A(3) WIIL NOE BE APPLICABLE FOR PURCHASE OF AGRICULTURE PRODUCT.
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Arun Iyer

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Arun Iyer (Expert)
14 December 2010 Yes i Agree
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