sec. 40A(3)
This query is : Resolved
14 July 2011
Please let me know th reply of following:
If a person books a expense of Rs.14000/- on 11.07.11, then of Rs.15000/- on 12.07.11, then of Rs.11000/- on 13.07.11 of the same party, the whole outstanding of Rs. 40000/- was paid on 22.07.11..then section 40A(3) will not apply....
Please tell if i am right or not???
If a person books a expense of Rs.14000/- on 11.07.11, then of Rs.15000/- on 12.07.11, then of Rs.11000/- on 13.07.11 of the same party, the whole outstanding of Rs. 40000/- was paid on 22.07.11..then section 40A(3) will not apply....
Please tell if i am right or not???
14 July 2011
40A3 will apply and entire amount will be disallowed, as 40A3 is dependent on Payment
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