Sec 40 (a) 3
This query is : Resolved
Guest
Guest
(Querist)
29 August 2011
for every month i incur staff welfare expenditure through petty cash, where not even single exp cross Rs. 20 K .... but in my books i pass 1 time transaction at the month end which is approx Rs. 50 K every month....
will this attract Sec 40(A)3 ??
will this attract Sec 40(A)3 ??
29 August 2011
No problem, since single expenses not exceeding Rs.20000 per day then section 40A(3) not apply. but even try to account single cash entry below Rs.20000 for avoiding confusions
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