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Payment disallowed

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 June 2013 Sir, i would like to know that if payment of a an expenses exceeding Rs.20000/- through cash memo than such amount disallowed or not.?
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CA Kapil Verma

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CA Kapil Verma (Expert)
12 June 2013 yes it will be disallowed
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CA Kapil Verma

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CA Kapil Verma (Expert)
12 June 2013 please refer Sec 40A(3) of income Tax act.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
12 June 2013 There are certain exceptions for which rule 6DD of Income tax Rules,1962 also may be referred.
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