QUERY RELATED TO SECTION 40A(3)

This query is : Resolved

sourabh (Querist)
Follow

20 October 2007 SIR/MAM,
MY QUERY IS RELATED TO SECTION 40A(3) WHICH CASH PAYMENT EXCEEDING RS 20000
I WANT TO ASK THAT IF CASH PAYMENT IS MADE BY RELIGIOUS INSTITUTION OR TRUST EXCEEDING RS 20000 IS COVERED BY ABOVE SECTION OR NOT AND PAYMENT EXCEEDING 20000
MADE FOR PURCHASE OF CAPITAL ASSET IS COVERED BY ABOVE SECTION OR NOT.
PLEASE SOLVE MY PROBLEM AND OBLIGE.
THANK YOU

M Janak Rao

M Janak Rao (Expert)
Follow

20 October 2007 No cash payment above Rs. 20000/- if avobe cash payment Rs. 20000/- to any person/trust/medical assistance/education assistance/Capital Assets Purchase (All Expendiure is Disallow )Authorit officer penalty in this cases if payment above Rs. 20000/- by cash

If no bank account: in this cases you arrange the payment 2 different dates