Payments disallowed u/s 40a(3)

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
27 January 2013 our co deals in automobile spare parts and sell goods all over India. we appoint one dealer in xxx state to whom we sale spares billed Rs 326540 . now he is depositing cash in our account Rs 121000, Rs 49000, Rs 99000, Rs 57540 as balance on different dates from different locations like city 1, city 2. i want to clear that can he made cash payment above 20000 and if yes/no whether i shall be responsible to reply to deptt for any reciept above 20000.

27 January 2013 it is his problem. 40A(3) says disallowance of expense. it is your income so no problem with that.
if he is showing this as purchase then he can get problem. but again to see whether you raised any bill more than 20K.
there is many points to see but for your dealer end.
you are safe

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
27 January 2013 Thanks Prashant Gupta ji for resolving my query.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro

Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news


Answer Query



Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details