Sec.40A(3) issues
Applicability of Sec.40A(3) -
1. Payment of Rs. 30,000 in cash made to Mr.X, an auditor having an office in town 'B' where no banking facilities are available.
2. Payment of Rs. 40,000 to Creditor for purchase of raw materials, who lives in a remote village where no banking facilities are available.
3. Purchase of materials for Rs.29000 from a Mall in Mumbai which operates on "cash and carry basis"
4. Purchase of goods in cash by mr.A from his brother for 23000, the market value of which is Rs.18000.
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03-02-2010, 04:42 PM
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