Disallowance of cash expense
This query is : Resolved
ANIMESH PANDEY
(Querist)
13 April 2018
Dear Sir,
We have received a bill of Rs.14500/- to be paid in cash .
I want to know if I would make this payment against this bill in two dates(7000/- and 7500/-) then also the disallowance U/S 40A(3) will hit.
We have received a bill of Rs.14500/- to be paid in cash .
I want to know if I would make this payment against this bill in two dates(7000/- and 7500/-) then also the disallowance U/S 40A(3) will hit.
CA SUNIL K GARG
(Expert)
13 April 2018
No, the monetary limit is rs 10000 now
ANIMESH PANDEY
(Querist)
16 April 2018
Sory Sir I dint understand what you want to say. Pls clearify in bit details .
CA SUNIL K GARG
(Expert)
16 April 2018
40 A (3) is applicable , if cash more than 10000 is paid in one day. if the payment is made on two dates and each payment is less than 10000. than no dIS AllOwance u/s 40 A (3)
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ANIMESH PANDEY
(Querist)
19 April 2018
Sir , it means we have to see limit of Rs.10000 per party per day , Not per party per bill
CA SUNIL K GARG
(Expert)
19 April 2018
yes, this is the right interpretation
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