banner_ad

Disallowance u/s 40A(3) of I.T. Act.

This query is : Resolved 
Profile Image

Profile Image

(Querist)
18 June 2011 A business Promotion Expenses is debited by way of crediting to X party of Rs.96000/- in Jan,2011 related to F.Y.2010-11.Subsquently in Feb,2011 & March,2011 the Party was paid in cash on different dates being less than Rs.20000/- & square up the party account.

Now query is whether such expenses is disallowed u/s 40A(3).
Profile Image

prasad

Profile Image

prasad (Expert)
18 June 2011 yes the entire expenditure of Rs.96000/= will be disallowed.
Profile Image

CA KRISHNA KUMAR DARUKA

Profile Image

CA KRISHNA KUMAR DARUKA (Expert)
19 June 2011 Section 40(A)(3) is applicable only when the threshold limit of Rs. 20000 exceeds in a single day and so here 40A(3) is not applicable...and hence full amount shall be allowable as deduction.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details