Hi,
I have a query regarding cash payment made to partners more than 20,000 in a single day, whether it will be disallowed as per section 40a3 of IT. Kindly clarify.
Regards,
Meyyappan.S
Menu
Disallowance of cash payment to partners more than 20k
Replies (4)
Yes. Bcoz partner rem is revenue exp...
If such payments are towards any expenditure of the firm, then these will be disallowed.
| Originally posted by : Poornima Madhava | ||
 |
If such payments are towards any expenditure of the firm, then these will be disallowed. |  |
No its not towards expenditure of the firm its to the partners only (kind of drawings)
If drawings, then no disallowance
Recent Threads
- Updated ITR as missed the dead line
- Change if place of business l
- Purchase from unregistered dealer garments busines
- TDS DEDUCTED BUT NOT PAID BY EMPLOYER
- GST RCM GTA
- TDS Challan interst amount wrongly paid as surchar
- Query on TDS & Stamp Duty
- Query on form 26QB and TDS deduction
- Received this confusing IT notice. How to reply
- Houston Sign Company For Custom Signs, Banners &am
Related Threads
CAclubindia
