doubt in sec 40A(3)
This query is : Resolved
22 April 2011
Amt. paid in Cash above Rs. 20000 in a single day to a same party is disallowed wholly even if paid in different times during a same day.
but, if amount is paid against more than one invoice or bill then?
Eg. Mr A buys raw material from Mr. B for Rs 30000 and mr B issues 2 bills of Rs. 15k each for raw mat x and raw mat y. now?
but, if amount is paid against more than one invoice or bill then?
Eg. Mr A buys raw material from Mr. B for Rs 30000 and mr B issues 2 bills of Rs. 15k each for raw mat x and raw mat y. now?
22 April 2011
THE FINANCE 2008 HAS AMENDED SECTION 40A(3) AND NOW NO SPLITTING UP OF PAYMENTS IS ALLOWED. THE LIMIT IS PAYMENT TO A SINGLE PARTY IN A DAY SHALL NOT EXCEED THE AMOUNT OF RS 20000
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
