17 June 2020
Hello Experts , in one of our clients case who runs Hospital has made rent payment in cash which is 15000 single day every month . Now how to make adjustment in such case so that it is within section 40A
17 June 2020
In future one should pay through banking channel only or if the landlord insists for cash payment then the payment may be made in two installments each month say fortnightly or on two different dates and each payment not exceeding Rs.15,000.
If the hospital building is owned by more than one person then rent is paid to two or more persons and in that case the payment to each person shall be less than Rs.10,000.
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