Payment disallowed
This query is : Resolved
Querist : Anonymous
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.?
CA Kapil Verma
(Expert)
12 June 2013
yes it will be disallowed
CA Kapil Verma
(Expert)
12 June 2013
please refer Sec 40A(3) of income Tax act.
12 June 2013
There are certain exceptions for which rule 6DD of Income tax Rules,1962 also may be referred.
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