Cash payment exceeding rs.20000/-
This query is : Open
30 September 2015
A TRADER ENGAGED IN THE BUSINESS OF CATTLE FEED TRADING MAKES PAYMENT FOR PURCHASE OF GOODS BY DIRECTLY DEPOSITING AMOUNT IN BANK ACCOUNT OF SELLER. WHETHER PROVISIONS OF SECTION 40A(3) APPLICABLE TO HIM IF PAYMENT EXCEEDS RS.20000/-
30 September 2015
Yes it will be same as cash payment ... but check rule 6DD , might help you.
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