Easy Office
LCI Learning

Payment of Rs.100000/-

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 June 2010 Sir,
I want to deposit Rs.100000/- in one of my creditor's current account. Can I do so. Whether it will be allowed or not as per Income Tax Act.
Profile Image

Shyam Lal Naik

Profile Image

Shyam Lal Naik (Expert)
18 June 2010 It amounts to cash payment and hit by section 40A and in case of revenue expenditure, it shall be disallowed.
Profile Image

CA. BIJENDER KR. BANSAL

Profile Image

CA. BIJENDER KR. BANSAL (Expert)
18 June 2010 Deposit throgh DD/ payorder.
if you deposit in cash, it will be disallowed u/s 40A(3)
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CMA Arif Farooqui

Profile Image

CMA Arif Farooqui (Expert)
23 June 2010 Deposit through DD/ pay order or Cheque.
if you deposit in cash, it will be disallowed u/s 40A(3)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links