Constitution of my firm is Partnership. I have paid above Rs.20,000/- in cash to Maharashtra State Electricity Distribution Co. Ltd. on two occasions during 2011-12, will this payment be disallowed? Pl clarify.
Madan Parakh (PARTNER) 28 September 2012
Constitution of my firm is Partnership. I have paid above Rs.20,000/- in cash to Maharashtra State Electricity Distribution Co. Ltd. on two occasions during 2011-12, will this payment be disallowed? Pl clarify.
Sankaranarayanan (Advocate) 28 September 2012
Are your trunover come under 43AB then the act says clearly those the cash trasaction is in and above of 20000 then it is disallowed .
How they given receipt for that transaction, is it passible to get different voucher ( split to three or two)
...Irene... (Bean Counter) 28 September 2012
@ Ld Sankar Narayan,
Sir could you please explain the relation between Sec 40 A(3) ( which the query deals with) and the Sec43AB as explained by you??
The question deals with the applicability of Sec 40 A(3) of the Income Tax Act, 1961, read with Rule 6DD.
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