expense - allowable or disallowable
This query is : Resolved
19 March 2010
Mr.x made cash payment of Rs.36000/- to Mr.Y for a single bill (for eg. Bill no.143)
in the following way
Rs.18000/- on 18/03/2010
Rs.18000/- on 19/03/2010
allowable or dis-allowable?
in the following way
Rs.18000/- on 18/03/2010
Rs.18000/- on 19/03/2010
allowable or dis-allowable?
CA CHINTAN AJMERA
(Expert)
19 March 2010
Disallowed if single bill.
CA Ashok Kumar Sahu
(Expert)
19 March 2010
not disallowed if payment made by cash not more then 20000/- for a single day
rs 36,000/- is allowable
rs 36,000/- is allowable
CA Ravi Sisodia
(Expert)
19 March 2010
allowable
CA CHINTAN AJMERA
(Expert)
20 March 2010
If there is single bill then it must be disallowed. I accept that purchase made during different time but bill is still single.
CA Ashok Kumar Sahu
(Expert)
20 March 2010
chintanji in the sec 40A(3) specially mention if excess of cash payment more then 20000/- in a signal day then such amt fully disallow,
kindly read sec. 40A(3) with explanation for better understanding
kindly read sec. 40A(3) with explanation for better understanding
Anurag Agarwal
(Expert)
24 March 2010
The same is allowable as the amount being less than or equal to 20000 to a single person...................................................Agreeing with Ashok
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