Section 40(a)(3)
This query is : Resolved
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.
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.
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.
06 August 2013
if for diff bills if payment is done on 1 day for more then 35,000 then sec40A(3) is applicable.
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Foreign inward in ITR
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
