diallowance u/s. 40A (3)
This query is : Resolved
16 July 2009
In one of the company, many payments are made exceeding rs. 20000 against the same bill. Is there any way by which such entries can be changed so that the disallowance u/s. 40A (3) is not attracted.
Plz answer this as soon as possible.
Plz answer this as soon as possible.
16 July 2009
Make the amount of the entries each day below 20,000/-.
16 July 2009
Thanks for your answer, but when the bill amounts to rs. 100000 or more & there are many such bill which can run to cores of rupees this treatment does not work. so kindly suggest that is there any other way out.
16 July 2009
There is one another option - Payment of Bills on Public Holidays.
16 July 2009
I am aware of this option also. but the problem is that we cannot show this much of high expenses on public holidays as this may create side effects in case of scrutiny.
is there any way that this payments exceeding rs. 20000 does not reflect in b/s. only.
is there any way that this payments exceeding rs. 20000 does not reflect in b/s. only.
16 July 2009
Then there is no other option, unless you prove that there is no other mode of payment available.
16 July 2009
Give cheques ya....(kiddin)
you hav the followin options,
1.Pay the bill for 2 days ex:19000, 19500 on consective days,
2.pay through agents....ask agents to pay on public holiday....you can reimburse them on anyday for any amount....
3.this is illegal but i observed in our one of client(i.e., payment to same party only but names will be different...for example if one technician is there then they will show as there are 2 technicians and will pay) like that ....but i dont prefer this....
answer to ur question:
keep payments on different dates
you hav the followin options,
1.Pay the bill for 2 days ex:19000, 19500 on consective days,
2.pay through agents....ask agents to pay on public holiday....you can reimburse them on anyday for any amount....
3.this is illegal but i observed in our one of client(i.e., payment to same party only but names will be different...for example if one technician is there then they will show as there are 2 technicians and will pay) like that ....but i dont prefer this....
answer to ur question:
keep payments on different dates
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
