DOUBT REGARDING SECTION 40A(3)
This query is : Resolved
02 October 2019
We generally dont accept any expenditure in cash if it exceeds 10,000 my doubt is there is something called credit card sales, where goods are sold to customer by accepting their credit cards , upto receipt of cash its an expenditure for us , so my doubt is is this expenditure comes under net of this section 40A(3) please clarify!!!
26 May 2020
Since it is a sale transaction the limit is Rs. 2,00,000/-
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