Section 40(a) (3)

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 December 2014 if any advance was given in cash for more than Rs. 20000 for the purpose of purchase or expenses in normal course of business then whether it is allowed or not under income tax act

22 December 2014 if its an expenditure and if it is paid to 1 single party in 1 single day.

22 December 2014 for expenses, then expenses not allowed , only transporter exp will allowed upto rs. 35000/- in a day.

22 December 2014 for expenses, then expenses not allowed , only transporter exp will allowed upto rs. 35000/- in a day.

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 December 2014 i am asking about advance.

24 December 2014 advance also will become exp hence this section is applicable.


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