Expenditure u/s 40A(3)

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..... Expenditure u/s 40A(3)
Query (Issue) Started By: - BSNL PUNJAB TELECOM CIRCLE Dated:- 20-9-2011 Last Reply Date:- 21-9-2011 Income Tax
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Income Tax
A company is involved in Real .....

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..... Estate Business and it purchases land on which constructions activity is carried out and is sold in the form of flats. Certain amount of cash in excess of Rs. 20000/- has been paid against purchase o .....

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..... f land. Finally, the land will not be capitalised in the books of accounts. Further, Please advise whether the same will be disallowed u/s 40A(3) of the Income Tax Act, 1961. or not. Reply By GOPALJI .....

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..... AGRAWAL: The Reply: Please find out the ways in exceptions mentioned in rule 6DD.
Discussion Forum - Knowledge Sharing .....

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