40A(3) Cash payment disallowance
This query is : Open
05 October 2009
Cash payments in excess of Rs.20,000.00 made by a franchisee / dealer to BSNL (Bharat Sanchar Nigam Limited - a Govt of India undertaking) for purchase of SIM / Currency for resale to sub dealers and consumers, whether to be disallowed u/s 40A(3) or it is exempt from disallowance under Rule 6DD(b) of Income-tax rules 1962. Please clarify
05 October 2009
Payment to BSNL for purchase of SIM is not exempted under Rule 6DD(b) unless it is paid under any rules framed by the Govt. or payment is required to be made in legal tender.
Hence will be disallowed.
Hence will be disallowed.
05 October 2009
i think it is exempted.
06 October 2009
Dear Sri Sanjay Mukherjee & Sri Chintan Ajmera,
Thanks for your reply. I have gone through rule 6DD(b)and need to know whether Govt has framed any rules relevant thereto.
Regards,
K.Lakshman Rao
Chartered Accountant
9844235678
Shimoga. Karnataka State
Thanks for your reply. I have gone through rule 6DD(b)and need to know whether Govt has framed any rules relevant thereto.
Regards,
K.Lakshman Rao
Chartered Accountant
9844235678
Shimoga. Karnataka State
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