Cash payment exceeding 20000

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Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2014 Revenue cash payments exceeding Rs.20000, by education trust, allowable under income tax

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 March 2014 Cash payments exceeding Rs. 20,000 will be disallowed u/s 40A(3).

It will be added to income.

However, since income is exempt u/s 11 or 12, there will be no impact.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

03 March 2014 Cash payments exceeding Rs. 20,000 will be disallowed u/s 40A(3).

It will be added to income.

However, since income is exempt u/s 11 or 12, there will be no impact.

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