25 June 2009
if a person is travel agent who is also selling air ticket but before selling tickets he has buy tickets from airlines which he buys on cash because if he buys tickets from airlines by cheque or any other form it will take time and he will loose his customer. in such a situation can this amount be dissallowed u/s 40A(3)
25 June 2009
yes the same is to be disallowed if the cost exceeds 20000/- the cash payment for tickets costing less than 20000 may be paid in cash, it would be better to buy on line tickets as same would be deemed to be paid through banking channel hence not to be disallowed
CAclubindia
