sec 40A(3)
This query is : Resolved
01 July 2011
If Sec 40A(3) deals in respect of Expenditure, then what will happen in following example.
Suppose i have made a purchase of 36000. and party has send me two bills of Rs 18000 & Rs 18000 for which day is same and amount is less than 20000. Then what should happen in such case whether payment made by me against Rs each bill with single cash voucher will allowable or disallowable.
Please clarify. Limit of 20000 is in respect of Payment of 18000 which is less than 20000. or it is for whole expenditure of rs 36000.
Suppose i have made a purchase of 36000. and party has send me two bills of Rs 18000 & Rs 18000 for which day is same and amount is less than 20000. Then what should happen in such case whether payment made by me against Rs each bill with single cash voucher will allowable or disallowable.
Please clarify. Limit of 20000 is in respect of Payment of 18000 which is less than 20000. or it is for whole expenditure of rs 36000.
01 July 2011
It will be disallowed, Section is very clear in its wordings that "amount in excess of 20K per day" it does not specify voucher-wise.
It will be better if you show the payment at two different dates.
It will be better if you show the payment at two different dates.
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