Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Effect of amendment u/s 40A(3) w.e.f. 1.4.2009 – Total cash ...


Income Tax Act Section 40A(3) Amendment: Aggregate Daily Cash Payments to One Person, Effective April 1, 2009.

December 26, 2014

Case Laws     Income Tax     HC

Effect of amendment u/s 40A(3) w.e.f. 1.4.2009 – Total cash payments towards expenditure made to a particular person during a day to be aggregated or not - the amendment is applicable w.e.f. 1st April, 2009 not prior to that - HC

View Source

 


 

You may also like:

  1. Addition u/s 40A(3) - cash payment in excess of prescribed limit - Genuineness or otherwise of payment is not a criteria to exclude cash payment in excess of prescribed...

  2. Service Tax (Third amendment) Rules, 2016 - Amendments in Half Yearly Return - Form ST-3 - Notification

  3. Disallowance u/s 40A(3) - transactions and payments made in cash - assessee filed affidavits from sub-contractors of assessee firm and they insisted for cash payments to...

  4. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

  5. Amendment of section 194DA. - TDS - any person responsible for paying to a resident any sum under a life insurance policy, including the sum allocated by way of bonus...

  6. Disallowance u/s.40A(3) - expenses towards air ticket and hotel expenses in cash in excess of prescribed limit u/s.40A(3) - there is merit in arguments of the assessee...

  7. Income–tax (Dispute Resolution Panel) (First Amendment) Rules, 2018

  8. Disallowance of freight expenditure u/s 40A(3) paid in Cash - As enhanced limit of ₹ 35,000/- is applicable for the payment to the transport operators and in other...

  9. Addition u/s 40A(3) - cash payments in excess of the limit prescribed - each payment, on each day to each person was less than ₹ 20,000/- in cash - There were both...

  10. Income-tax (Dispute Resolution Panel)(first amendment) Rules, 2012 - Amendment in Rule 3. - Notification

  11. Addition u/s 40A(3) - cash payments were made to truck drivers after banking hours - even this amount should not have been disallowed u/s 40A(3) read with Rule 6DD of...

  12. Disallowance u/s. 40A(3) - business expediency in payment of cash towards genuine transaction - The contention of the assessee from the day one is that the sellers...

  13. HC held that u/s 40A, cash payments are restricted to prevent false income claims. Exemptions allowed for special circumstances where bank transactions are impossible....

  14. Disallowance of cash payments in excess of prescribed limit u/s. 40A(3) - even though few payments is covered u/s. 40A(3) of the Act, because of peculiar nature of...

  15. Disallowance u/s 40A(3) - cash payments made by the assessee above ₹ 20,000/- in a single day - when old ornaments are sold in dire need then why an unknown person...

 

Quick Updates:Latest Updates