section 40 A(3) want details
This query is : Resolved
19 December 2009
if you paid expense in cash more than rs 20000 for a person in a sigle day,
sectiion will attract
sectiion will attract
19 December 2009
Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds twenty thousand rupees, no deduction shall be allowed in respect of such expenditure.
- Sec. 40A(3)
- Sec. 40A(3)
19 December 2009
expesse will not allowed as dedution
19 December 2009
simple no cash transation in a day to one party for rs.20000/- if done amount will be disallowed
19 December 2009
Sec.40A(3) Will attract if the Payment made more than Rs.20000/- by cash or other than account Payee followig points are also to be considered
1.even payment made to one party in a single day more thanr one time ( agregate value more than Rs.20000/- sec.40A(3) will attract
but you are making a payment for two or more bills this section will not attarct unless the single bill exceeds Rs.20000/-
1.even payment made to one party in a single day more thanr one time ( agregate value more than Rs.20000/- sec.40A(3) will attract
but you are making a payment for two or more bills this section will not attarct unless the single bill exceeds Rs.20000/-
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