Sec 40a (2) b
RAJ KUMAR (FINANCE MANAGER) (1393 Points)
13 August 2013RAJ KUMAR (FINANCE MANAGER) (1393 Points)
13 August 2013
CA Narayan Sarda
(PRACTICING CHARTERED ACCOUNTANT)
(25 Points)
Replied 14 September 2013
40a(2)(b) applies on only expenditures of the buz...not on the income so here cause to worry in fathers case as paying to the sons (relative) buz. and not to the son as receiving the income. father has to comply with 40a(2)(b) compliances.
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