Section 40A(3)

When Cash Payments are Essential for Business, Section 40A(3) Does Not Apply

Section 40A(3) of the Income Tax Act, 1961, is an integral provision within the tax code of India, designed to regulate how businesses make payments, […]

ITAT, Section 40A(3)

Clarifying Section 40A(3): ITAT’s Take on Necessary Cash Payments for Business Expenses

The Income Tax Act, 1961, remains the cornerstone of the Indian taxation system, governing the financial obligations of individuals and businesses alike. One of the […]