disallowance u/s 40A(3)
Sonia Boob (Graduation) (39 Points)
29 November 2018
Car insurance paid in cash exceeding 10000 is disallowable u/s 40A(3)?
3 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 29 November 2018
whether insurance paid for business or personal purpose
Sonia Boob
(Graduation)
(39 Points)
Replied 30 November 2018
if paid for personal purpose, then it is not allowed and if paid for business purpose, then as per 40A(3) it is disallowed.
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