Where an assessee doing a business incurs any expenditure in respect of which payments made to a person in a day exceeds ₹20,000 should be paid through account payee cheque or demand draft to claim deduction for such exp
CS Executive · Tax Laws and Practice · PYQS · June 2016
Where an assessee doing a business incurs any expenditure in respect of which payments made to a person in a day exceeds ₹20,000 should be paid through account payee cheque or demand draft to claim deduction for such expenditure. This restriction does not apply to —
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax
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