expense - allowable or disallowable

This query is : Resolved

zakir (Querist)
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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?

CA CHINTAN AJMERA

CA CHINTAN AJMERA (Expert)
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19 March 2010 Disallowed if single bill.

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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19 March 2010 not disallowed if payment made by cash not more then 20000/- for a single day

rs 36,000/- is allowable

CA Shiv

CA Shiv (Expert)
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19 March 2010 Allowable.....

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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19 March 2010 allowable

CA CHINTAN AJMERA

CA CHINTAN AJMERA (Expert)
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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

CA Ashok Kumar Sahu (Expert)
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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

Anurag Agarwal

Anurag Agarwal (Expert)
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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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