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sec40a3

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 January 2011 if advance payment is made to a individual in cash exceeding rs 20000 shall be disallowed or not
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CA. Himansu Sekhar Kabi

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CA. Himansu Sekhar Kabi (Expert)
10 January 2011 Sec 40A(3)says disallowances of any expenditure(Revex charged to p/l)paid in cash in excess of RS.20K.

Advance payment not being a expenses charged to p/l not covered by sec 40A(3).
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
10 January 2011 for which purpose advance payment? if for Expence. then Sec 40a(3) applicable. otherwise not for exps. then not applicable.
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