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Disallowance U/S 40 A(3)

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(Querist)
14 February 2008 whether payments made through debit/ credit card are disallowed u/s 40 A(3)?
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R.V.RAO

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R.V.RAO (Expert)
14 February 2008 UNDER RULE 6DD(d) of INCOME TAX ACT PAYMENTS MADE THROUGH THE BANKING SYSTEM ARE NOT DISALLOWED UNDER SEC 40A(3).
HENCE DR./CR. CARDS BEING PART OF BANKING SYSYTEM ,SUCH PAYMENTS ARE NOT DISALLOWED.
R.V.RAO
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Late CA Sampat Jain

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Late CA Sampat Jain (Expert)
14 February 2008 NO
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