Section 40a(3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 June 2015
According to act, Payment above Rs.20000 to a single person in a day shall be disallowed under income tax.
if i want to made a payment of rs. 25000
to a person, can i issue 2 different bills of rs.19000 and rs.6000
section 40A(3) shall be allowed or not on above point. plssssss clarify
if i want to made a payment of rs. 25000
to a person, can i issue 2 different bills of rs.19000 and rs.6000
section 40A(3) shall be allowed or not on above point. plssssss clarify
19 June 2015
Aggregate Payment has to be seen: Even if a person makes more than one different purchases for cash from same person in excess of Rs. 20000 in a single day even though on separate cash memos, such aggregate payment will be disallowed u/s 40A(3).
In your case the transaction will be covered by section 40A(3) and such expenditure will be disallowed.
In your case the transaction will be covered by section 40A(3) and such expenditure will be disallowed.
Message likes :
3 times
20 June 2015
agree with himanshu
pay amount in 2days
pay amount in 2days
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