sec40a3
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 January 2011
if advance payment is made to a individual in cash exceeding rs 20000 shall be disallowed or not
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).
Advance payment not being a expenses charged to p/l not covered by sec 40A(3).
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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