Disclousre u/s 40A(2) of I.T.Act
This query is : Resolved
12 May 2010
Whether in case of Partnership Firm the Payment made to one Partner & other Partner's wife towards lease rent & interest on unsecured loan from partner's wife respectively can be disclosed as required u/s 40A (2) of I.T. act for Tax Audit purposes under 3CD Form.
Please reply urgently.
Regards.
Please reply urgently.
Regards.
14 May 2010
Yes such all transactions are required to disclosed as per sec 40A(2) of I.T.Act in form 3CD, as all transactions are related party transactions.
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