Ravi & Co. paid ₹ 40,000 by cash to Mr. Balu a supplier on 5-9-2016. The cash payment was made on the day on which the bank was on strike. The amount of expenditure liable for disallowance under section 40A(3) is:
CS Executive · Tax Laws and Practice · PYQS · June 2017
Ravi & Co. paid ₹ 40,000 by cash to Mr. Balu a supplier on 5-9-2016. The cash payment was made on the day on which the bank was on strike. The amount of expenditure liable for disallowance under section 40A(3) is:
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax
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