Query on sec. 40 A (3) - Please Help
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2011
If a tenant (individual) pays a monthly rent of Rs. 35,000 to his landlord (an individual), and then claims this rent for HRA deduction u/s 10 (13A).
(A) Whether the rent paid will be disallowed for HRA exemption as this is paid in cash and not cheque/DD etc. ? - refer Sec 40 A(3)
Please Help.
Thanks.
(A) Whether the rent paid will be disallowed for HRA exemption as this is paid in cash and not cheque/DD etc. ? - refer Sec 40 A(3)
Please Help.
Thanks.
20 June 2011
No,
Applicability of Section 40 A(3) is restricted to Income under the head business / prof.
Applicability of Section 40 A(3) is restricted to Income under the head business / prof.
20 June 2011
YES....APPLICABILITY OF SEC 40(A)(3) is for the limited purpose of compututation of profit & gain from Business & Profession.
Regards
Regards
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