1.0Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investmentshttps://www.antworksmoney.com/blogTeam Antworkshttps://www.antworksmoney.com/blog/author/admin-2/rich600338<blockquote class="wp-embedded-content" data-secret="DsaiUuNw8E"><a href="https://www.antworksmoney.com/blog/section-40a2-of-the-income-tax/">Section 40A(2) of the Income Tax</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://www.antworksmoney.com/blog/section-40a2-of-the-income-tax/embed/#?secret=DsaiUuNw8E" width="600" height="338" title="“Section 40A(2) of the Income Tax” — Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments" data-secret="DsaiUuNw8E" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript"> /* <![CDATA[ */ /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); /* ]]> */ </script> This section of the Income Tax Act empowers the assessing income tax officer to not allow certain types of expenses to be claimed as deduction made to specific persons if he/she feels the need to do so in the backdrop of such expenditure being undervalued or unreasonable to the fair market value of the goods … Continue reading ""