Poonawalla fincorps
Poonawalla fincorps

Sec. 40A(3):-payment in cash exceeding Rs.20000

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(Querist)
15 October 2008 Does Payment made to State Electricity Board in excess of Rs.20000 Contravene Sec 40A(3) of Income Tax Act?
will Expense be Disallowed? or
Is it Covered Under Rule 6DD Clause(b)?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
15 October 2008 Yes, in my opinion.
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
15 October 2008 Liable to be disallowed. Not covered under Rule 6DD.
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