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.Solution
The correct answer is A
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