40A(3) Dis-allowance
This query is : Resolved
Dinesh reddy
(Querist)
18 August 2010
hi friends,
i have a doubt regarding the following text pls clarify.
whether 40A(3) is applicable only to the expenditure or to any kind of situations?
if yes,answer the following.
suppose,i paid 25000/-in cash towards fright.it took place before 1st October,2009.can i paid it as an advance and subsequently booked as expenditure?
i have a doubt regarding the following text pls clarify.
whether 40A(3) is applicable only to the expenditure or to any kind of situations?
if yes,answer the following.
suppose,i paid 25000/-in cash towards fright.it took place before 1st October,2009.can i paid it as an advance and subsequently booked as expenditure?
CMA Ramesh Krishnan
(Expert)
18 August 2010
If you paid as advance cash more than Rs.20000 and booking related expenses against that adavnce would be disallowed.
One more info: for transporter now the limit is increase as Rs.35000/-
One more info: for transporter now the limit is increase as Rs.35000/-
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