Question ID :
Amount taken or paid in cash in excess of 20000-
1 Whether amount taken for short time or paid for short time in cash exceeding 20000-(total )is also required to be
reported in Tax Audit report
2 If TDS is not deducted on interest paid to persons,whether
it will be suffice to make that Exp not allowable mean Add back to Profit without any other problem
Answer ID :
Jan 08, 2022
1) Yes 269SS. Penal provisions will attract for transaction otherwise than through account payee cheque.
2) Yes 30% expenditure will be disallowed.
VINAY BHARGAV KUMAR G on
Jan 10, 2022