Does section 40 a 3 overrides section 40 a 2 and sec 40 a i
situation- rent paid to related party 5 lakhs .no tds deducted .fmv of rent is 3 lakhs.
50 % of rent paid in cash
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Section 40 a 3 overrides section 40 a 2 and sec 40 a i
Replies (10)
Quick Summary
Can you little more clear
but it's sometimes depends upon the AO
how he understands the situation
but it's sometimes depends upon the AO
how he understands the situation
According to given situation how much will b disallowance to be made in computation
Disallowance will be attracted as TDS has not been deducted
Amount of disallowance and under which section
Disallowance under sec 40(A)(2) depends upon AO. In current situation under 40(A)(3) 2.5L should be disallowed.
What about tds disallowance
Yeah 30% of rent paid through bank should also be disallowed
But in computation of total income what amounts needs to be added .kindly give details
I think disallowance under both the section will be done. 75k and 2.5L.
30% should be disallowed
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