Query regarding section 40a(3)
This query is : Resolved
03 March 2014
Hello,
I want one clarification.Actually I am from Ahmedabad. And one of my client is purchasing goods from Banglore.And some times due to insufficient balance in my client's Bank account, He deposits cash directly in supplier account which is above Rs 20000. I am having proof of payment as I am having copy of Bank statement of Supplier account. Now my question is whether this transaction will attract section 40a(3) disallowance..!!!
I want one clarification.Actually I am from Ahmedabad. And one of my client is purchasing goods from Banglore.And some times due to insufficient balance in my client's Bank account, He deposits cash directly in supplier account which is above Rs 20000. I am having proof of payment as I am having copy of Bank statement of Supplier account. Now my question is whether this transaction will attract section 40a(3) disallowance..!!!
03 March 2014
should attract 40A(3). it is not relevant whether the payment reflects in the books of the receiver or not. the question where does it reflects in your books (ie in cash instead of bank!)
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