Cash deposit in bank account of payee amount to cash payment to the payee and S. 40A (3) is applicable.

Cash deposit in bank account of payee amount to cash payment to the payee and S. 40A (3) is applicable. https://www.taxtmi.com/article/detailed?id=556 Cash deposited into a supplier's bank account is treated as a cash payment and is therefore subject to disallowance under Section 40A(3) unless exceptional circumstances apply; Rule 6DD exemptions apply only where payment is made to the specified institutions themselves, not where cash is deposited into an account of a third party beneficiary, as illustrated by the Kerala High Court authority discussed. en-us Thu, 12 Nov 2009 00:00:00 +0530 Thu, 14 Aug 2014 18:07:30 +0530 TaxTMI RSS Generator Cash deposit in bank account of payee amount to cash payment to the payee and S. 40A (3) is applicable. https://www.taxtmi.com/article/detailed?id=556 Cash deposited into a supplier's bank account is treated as a cash payment and is therefore subject to disallowance under Section 40A(3) unless exceptional circumstances apply; Rule 6DD exemptions apply only where payment is made to the specified institutions themselves, not where cash is deposited into an account of a third party beneficiary, as illustrated by the Kerala High Court authority discussed. Articles Income Tax Thu, 12 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=556