28 October 2021
Suppose we have a bill of rs 90000/- from x ltd co . and we are making the payment to him in the installment of Rs 9000 each on different date , can we do so . or there is disallowed under income ta xact .
28 October 2021
Sir if i am not wrong , i have read if any payment is made to single person on a single day exceeding Rs 10 k is disallowed u/s 40a(3) of iT act. pls correct Me sir iam iam wrong
29 October 2021
suppose he split the bill of Rs 30000 /- in to three bill of Rs 10000 Each on dtd 01-01-2021. and make the payment of Rs 10000 on different date , in that case expenses is disallowed . Pls clarify.
29 October 2021
It gets disallowed if for same goods or service, the bill is split in more than one bill. Secondly, different bills, different dates are preferable.
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