Cash Payments Over INR 20K Exempt u/s 40A If Banks Closed on Holidays or Strikes, Per Rule 6DD(J.

Addition u/s 40A - expenses incurred in cash in excess of INR 20,000/- - The provision of rule 6DD(J) provides that provisions of section 40A(3) shall not be applicable where the payment was required to be made on a day on which the banks were not open on account of holidays or strike. .....

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