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About sec 40a(3)

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 June 2014 if any payment made above 20000 for capital expenditure.Is this allowable or not u/s 40A(3)
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 June 2014 yes it is allowed. 40a(3) doesnt apply to capex.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
06 June 2014 it is related to expenditure and that is claimed in profit and loss a/c i guess except sec 35 there is no sec which allows capital expenditure....
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
07 June 2014 Section40A (3) is applicable only to revenue expenditure and not capital expenditure. So any capital expenditure in excess of Rs.20000 has no impact on income tax.
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