sec 40A (3)
This query is : Resolved
rgurucharan
(Querist)
21 February 2009
please clarify,
when i make an advance payment of Rs. 25000 towards, the travelling advance. whether the advance attracts, Sec40A(3). please clarify at the earliest.
with regards,
R. Gurucharan.
when i make an advance payment of Rs. 25000 towards, the travelling advance. whether the advance attracts, Sec40A(3). please clarify at the earliest.
with regards,
R. Gurucharan.
CA. B.SRINIVASULU
(Expert)
21 February 2009
If you are making an advance then Section 40A(3) is not attracted. However you should be careful when you pass a journal entry for expenses then 40A(3) problem will arise.
In case if expenditure exceeds 20000 after travel issue cheque for travel amount and get back the total cash of rs.25000 from the employee.
This will solve your 40A(3) problem.
In case if expenditure exceeds 20000 after travel issue cheque for travel amount and get back the total cash of rs.25000 from the employee.
This will solve your 40A(3) problem.
CA.Tarun Maheshwari
(Expert)
21 February 2009
Very well answered with practical solution.
CA Nitin Wadhwani
(Expert)
22 February 2009
Even advance payment of expenses are covered under sec.40(A)(3).
So, the above expenditure will be disallowed.
So, the above expenditure will be disallowed.
rgurucharan
(Querist)
24 February 2009
Is Sec40A(3) is applicable for the Trust?
Because it is covered under Chapter IV D of the income tax Act 1961. But Trust is governed u/s 11 to 13 of the income tax Act 1961. please clarify at the earliest.
with regards,
R. Gurucharan.
Because it is covered under Chapter IV D of the income tax Act 1961. But Trust is governed u/s 11 to 13 of the income tax Act 1961. please clarify at the earliest.
with regards,
R. Gurucharan.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Equity Share Sale and Purchase
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Additional trade name
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
