sec 40 A(3)

This query is : Resolved

ABHIJIT (Querist)
Follow

03 July 2009 If an assessee makes a payment of two different bills(none of them exceeds Rs.20,000)at the same time in cash or by bearer cheque, IS SECTION 40A(3) APPLICABLE HERE??
for eg.date of puchase is 20th april 2008 from same supplier (two separate bill of Rs 9500 and Rs 13000) and supplier is paid on 25th april by cash.that is 9500+13000=22,500. WILL THIS AMOUNT DISALLOWED????
and what if the supplier was paid on same date that is date of purchase (20th april)

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
Follow

03 July 2009 not applicable.

ABHIJIT

ABHIJIT (Querist)
Follow

03 July 2009 sir can u tel me the reason of not applicable

ABHIJIT

ABHIJIT (Querist)
Follow

04 July 2009 sir its like paying cash more than 20000 so y it is not applicable.
pls tell me

NITIN

NITIN (Expert)
Follow

04 July 2009 Yes it is applicable since as per provision if payment is made in excess of Rs 20000 and provision does not state that amount is related to single bill and hence it is applicable

ABHIJIT

ABHIJIT (Querist)
Follow

04 July 2009 REQUEST TO EXPERTS TO ANSWER THIS QUERY PLEASE PLEASE

some says it is applicable and some says it is not applicable.
i request experts to answer this query with reason. why it is applicable or not applicable.
as per sec 40A(3) rs 20000 paid in cash is disallowed than why it is said that if two bills are less than 20,000 individually than it is not disallowed

ABHIJIT

ABHIJIT (Querist)
Follow

08 July 2009 pls pls pls can any one tell me properly?
request expert to tell me

ABHIJIT

ABHIJIT (Querist)
Follow

27 May 2010 THANKS

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Jagdeep Kaur

RAVINDRA JOSHI

Jaipal Singh

AJAY Kumar Agrawal

CA K GIRIDHAR

Subscribe Now

sec 40 A(3)

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA