Sec 40a (2)
This query is : Resolved
06 March 2014
co. purchased goods of fmv 32000 frm director of d co. wid amt of bill 40000 .wil 8000 b disallowed under sec 40 A (2)? plus if payment is made 36000 nd 4000 on different dates wrt to same bil how wil b its treatment in calculating pgbp income?
06 March 2014
1. The AO can disallow Rs. 8,000/- u/s 40A(2).
2. Payment of Rs. 36,000/- if made in CASH will be disallowed u/s 40A(3).
2. Payment of Rs. 36,000/- if made in CASH will be disallowed u/s 40A(3).
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