Question

    Where an Assesse incurs any expenditure for acquisition

    of any asset or part thereof in respect of which a payment or aggregate of payment made to a person in a day, otherwise than by an account payee Cheque drawn on a bank or account payee bank draft or use of electronic clearing system through a bank account or through such other prescribed electronic mode, exceeds ______, such expenditure shall not form apart of actual cost of such asset [Proviso to section 43(1)] for Assessment Year 2020-21.
    A Rs. 10,000 Correct Answer Incorrect Answer
    B Rs. 25,000 Correct Answer Incorrect Answer
    C Rs. 15,000 Correct Answer Incorrect Answer
    D Rs. 20,000 Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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