Expenses under 40a3
This query is : Resolved
08 February 2017
we purchase raw material and pay by cash to party. does that come under 40a3 and what is the limit to pay off in one day as of today.
08 February 2017
Yes it will be covered and the limit is Rs. 20,000 per day.
08 February 2017
Section 40A(3) attracts subject to rule 6DD. Limit is Rs. 20,000/- up to 31-3-2018 and there after Rs. 10,000 is proposed in 'Budget 2017-18'.
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