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sec 40A(3) of Income Tax Act,1961

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(Querist)
20 May 2011 hi i want to ask the ques that I have taken a insurance on my Stock stood at Godown and i have paid Rs 23000. Is this exp.be allowed or not?
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CA H M JOHARI

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CA H M JOHARI (Expert)
20 May 2011 yest it is business expenditure and allowed
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Shubham Omer

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Shubham Omer (Querist)
21 May 2011 sorry, i forget to written that the cash payment has been done of rs. 23000
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