Dear All
If my director taking remuneration in cash Rs 35000/- per month. so we have to deduct tds on it. and
is cash payment of director remuneration is allows under income tax act
Pls let me know
Pls reply urgently
chetan (accountant) (321 Points)
27 April 2011Dear All
If my director taking remuneration in cash Rs 35000/- per month. so we have to deduct tds on it. and
is cash payment of director remuneration is allows under income tax act
Pls let me know
Pls reply urgently
herald
(CA)
(32 Points)
Replied 27 April 2011
chetan,
The term ‘any expenditure’ given in section 40A(3) covers expenditure of all categories, n it will be disallowed u/s 40A(3) if the same has been paid by cash in excess of Rs.20000.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
