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payment in cash in excess of 20000

This query is : Resolved 

08 February 2009
i have made cash expenditure of rs. 35000/- as per details given below

Rs. 15000 on 01/01/08
Rs. 20000 on 01/01/08

will this be allowed under the act?

08 February 2009 If you have made the above payment to a single person then the entire expenditure will be disallowed as per 40A(3) of the income tax as ammended recently.


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