Rohit AgrawalRohit Agrawal asked 5 months ago
1 Answers
RaviRavi Staff answered 5 months ago

53 You are the Tax auditor of BL & Co., a partnership firm engaged in the business of plying of Goods Carriages for the financial year 2018-19 having a turnover of Rs. 20 crores. How would you deal and report on payment of ₹30,000 in cash to Mr. R on 10th September, 2018 towards settlement of invoice for expenses accounted in financial year 2017-18.
(a) Reporting required under Clause 21(d)(A) w.r.t. payment of ₹30,000.
(b) Reporting required under Clause 21(d)(B) w.r.t. payment of ₹30,000.
(c) No Reporting required in Form 3CD, as the limit of ₹35,000 is applicable when the payer is engaged in the business of plying of goods carriages.
(d) None of the above.
Answer given is “b” it should be “c”

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