sec 40A(3)
This query is : Resolved
18 July 2008
As i am Tours & Traveling company ,iam paying to GUIDER >Rs20,000(cash payment).wheather this Expenditure is disallowed(As per Sec 40A(3)) r not.
mohinder kansal
(Expert)
18 July 2008
As these are expenses incurred during the ordinary course of business, the same shall be under the preview of section 40A(3) and shall be liable to be disallowed in accordance with the provisions of the Act
Late CA Sampat Jain
(Expert)
18 July 2008
there is no specific exemption for tours and travelling company u/s 40A(3)
Sambu Suresh
(Expert)
18 July 2008
it is disallowed
18 July 2008
The expenditure may be allowable, in case the payment is made to the Guide living in an area like a village which is not having the banking facility. Refer, clause (h) of Rule 6DD which deals with exceptions to Section 40A(3).
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