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Income tax

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(Querist)
09 January 2014 Company paid cash of Rs.5 Lakhs to his supplier on Sunday. Can you please explain whether it is allowed for deduction or not as per income tax act.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
09 January 2014 when the payments are made during holiday which banks are closed then sec.40A(3) not apply. refer rule 6DD

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