Payment of Rs.100000/-
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2010
Sir,
I want to deposit Rs.100000/- in one of my creditor's current account. Can I do so. Whether it will be allowed or not as per Income Tax Act.
I want to deposit Rs.100000/- in one of my creditor's current account. Can I do so. Whether it will be allowed or not as per Income Tax Act.
18 June 2010
It amounts to cash payment and hit by section 40A and in case of revenue expenditure, it shall be disallowed.
18 June 2010
Deposit throgh DD/ payorder.
if you deposit in cash, it will be disallowed u/s 40A(3)
if you deposit in cash, it will be disallowed u/s 40A(3)
23 June 2010
Deposit through DD/ pay order or Cheque.
if you deposit in cash, it will be disallowed u/s 40A(3)
if you deposit in cash, it will be disallowed u/s 40A(3)
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