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Payment made by tt in cash

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(Querist)
22 September 2011 dear Sir,
My query is if party has made payment more than 20000by telegraphic transfer in cash through co op credit society/ co op bank. will it be disallowed u/s 40A(3).

rgds,
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CA. Nitin Agrawal

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CA. Nitin Agrawal (Expert)
23 September 2011 It will be treated at par like RTGS, so there would be no disallowance for payment made through TT.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
23 September 2011 If TT is made through co-op society, disallowance attracts under section 40A(3) because exception is for TT through bank.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
24 September 2011 If it is through Post Office or Co-operative Bank then it is not covered u/s 40A(3)

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