What is the limit of cash payment under section 40A(3), where payment made for plying, hiring or leasing goods carriages ?

CS Executive · Tax Laws and Practice · PYQS · June 2021
What is the limit of cash payment under section 40A(3), where payment made for plying, hiring or leasing goods carriages ?
(A) ₹10,000
(B) ₹20,000
(C) ₹35,000
(D) ₹50,000

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic