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Section 40(a)(3)

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(Querist)
06 August 2013 If payment has been made for more than 35000 to transporter for different days bill on a single day can be allowed u/s 40(A)(3) of Income Tax Act, 1961.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
06 August 2013 Section 40A(3) also applies to AGGREGATE of payments made during a day.

Hence if the AGGREGATE of payments made to a transporter during a day exceeds Rs. 35,000/- Section 40A(3) will be attracted and the expense will be disallowed if the payment is made in CASH.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
06 August 2013 if for diff bills if payment is done on 1 day for more then 35,000 then sec40A(3) is applicable.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
06 August 2013 sec 40A(3) calculate payment on day basis. so if payment is more than 35,000/- in cash in single day. the exp will be disallowed
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