Business man have an rent agreement for Rs.19000/- per month for business premises .landlord not giving PAN and collecting payment in cash. whether business man book expenditure in account.
whether expenditure on rent allowed
kindly clarify other relevant clauses.
1 Replies
rama krishnan
(12239 Points)
Replied 21 May 2018
entire rental expenses can be disallowed under section 40A(3) for making cash payment in excess of 10000 or 30% of rental expenses shall be disallowed on account of non deduction of TDS (if it case falls under 44AB)
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