Application of Sec 40 A(3)
This query is : Resolved
Guest
Guest
(Querist)
01 September 2008
Cash expenses exceeding Rs.20,000 are disaalowed.
But if a party gives the some amount as advance to another person by maintaining an account, say Adavance to Gopal, and if authorises that person for such expenses what is the applicability of the Section.
Act says only about expenses...
whether such advances are covered under this act.
But if a party gives the some amount as advance to another person by maintaining an account, say Adavance to Gopal, and if authorises that person for such expenses what is the applicability of the Section.
Act says only about expenses...
whether such advances are covered under this act.
Manish Karwa
(Expert)
02 September 2008
Advance is not an expenses, hence there is no question of allowance or disallowance.
02 September 2008
if to whom advance is given ,incurs exp more than 20000 in cash then the same is disallwed.
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