sec 40(A)(3)

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anand jayaram

anand jayaram (Querist)
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06 November 2009 whether advance to employee of Rs 25,000/- for official tour expenses attract disallowance u/s 40A(3)?

CA.SHAHZAD SAYYED

CA.SHAHZAD SAYYED (Expert)
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06 November 2009 Dear Anand
Sec 40A(3) attracts only if there is payment of any items which comes under Trading and P&L A/c in excess of Rs.20000, since in your case there is advance which is not expence so u can give advance of any amount

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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06 November 2009 agree

Sandeep Kumar Sahu

Sandeep Kumar Sahu (Expert)
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07 November 2009 Agreed with Shahzad but one thing you have to take care of Sec 269SS of Income Tax Act. It may come under Tax Audit.

CA Deepak S

CA Deepak S (Expert)
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07 November 2009 In opinion if at the time of claiming the actual expenditure if the same exceeds Rs20000 then it will atract 40A(3)

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