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Section 40a(3)

This query is : Resolved 
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(Querist)
28 August 2012 Dear Sir/ Ma'am,

Request you to clarify on the payment made to party on single day for more than Rs. 20,000/-.

It is observed that to one of the directors on 21st April 2011, payment was made of Rs. 32,000/-.

Payment details are as follows:
1. Sitting fees for BOD Meeting: Rs. 8000/-
2. Reimbursement of Travel Expenses Rs. 10000/- to attend BOD Meeting
3. Reimbursement of Travel Expenses Rs. 10000/- to attend BOD Meeting
4. Reimbursement of Travel Expenses Rs. 4000/- to attend BOD Meeting

Bills were raised by director individually for all these expenses.
Request you to clarify whether these expenses will be inadmissible for tax audit u/s 43B?
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Guest (Expert)
28 August 2012 The above expense will be disallowed u/s 40a(3) of Income Tax Act,1961.
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