Question

Under Section 36(4), what is the disallowance rule for general business expense payments made to a single person in a single day in cash (other than via banking or online channels)?

A 20% of the payment is disallowed
B 30% of the payment is disallowed
C 50% of the payment is disallowed
D 100% of the payment is disallowed if it exceeds ₹10,000
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