Sec 40a (3)

This query is : Resolved

abhishek jain (Querist)
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10 May 2012 fact of the case

one bill rs 12500
Second bill Rs 12500

whole payment of Rs 25000 was made on single day in cash.

deduction will be allowed or not ?

CA CKP

CA CKP (Expert)
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10 May 2012 Deduction will not allowed for the entire expenditure if the aggregate of payment made to a person in day in cash.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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10 May 2012 If bill dates are different then payment shall be allowed otherwise disallowed

CA Kishore Tallam

CA Kishore Tallam (Expert)
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10 May 2012 If the bills are different, even if the payment made to a person in a single day exceeds Rs. 20,000, then it is tax deductible.

abhishek jain

abhishek jain (Querist)
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10 May 2012 if bills dates are same,then it will be allowed or not ?

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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10 May 2012 No it will not be allowed as the payment is made in excess of Rs. 20000 per day in cash.

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CA Kishore Tallam

CA Kishore Tallam (Expert)
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10 May 2012 Even if bill dates are same, it will be allowed. But the condition is bills has to be different.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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10 May 2012 If the payment is made in a day then it will be disallowed.
Earlier it was bill wise, which was amended lateron to make it per day.

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Sec 40a (3)

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