TDS
This query is : Resolved
04 July 2009
Whether payment made directly to employees of some party more than Rs. 20000 is a violence of Section 40(A)(3)?
04 July 2009
Any expenses incurred in cash for more than Rs. 20000/- will be disallowed u/s. 40(a)(3). The payment which you are making to the employees of some party if debited to profit & loss account then the same will be voilation of sec. 40(A)(3).
04 July 2009
Mr Ratan, can u please provide us the source on the basis of which you gave your opinion?
04 July 2009
Yes. If it is given for some expenses.
04 July 2009
Mr Ratan, can u please provide us the source on the basis of which you gave your opinion?
04 July 2009
Dear sandeep,
You can refer sec. 40(A)(3) in the Income Tax Act. Various judgements are produced from time to time. You can also refer to guidance note of our institute.
You can refer sec. 40(A)(3) in the Income Tax Act. Various judgements are produced from time to time. You can also refer to guidance note of our institute.
06 July 2009
Thanx Sir,but would ur answer be the same if payment to any single employee of that party does not exceed Rs.20000. The payment exceeds the limit only in aggregate.
07 July 2009
In my opinion, in this case also, this section should apply. You are making payment on behalf of that party. The assessing officer may be of view, that your payment is to the party, in some different way. It may be a question of arguments.
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