40a(3)
This query is : Resolved
13 June 2015
Mr. A incurred expenditure for Rs 1 Lakh in a single day, many transaction below rs. 20000 From different persons. Whether it's allowed
13 June 2015
Sec 40 A (3) is attracted only if the payment in other than NEFT/RTGC/Account Payee Cheque or DD for an amount exceeding Rs. 20,000 to a SINGLE PERSON on a single day.
Since you have paid to different persons for services provided by them to you, sec 40 A(3) will not attract.
Since you have paid to different persons for services provided by them to you, sec 40 A(3) will not attract.
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