banner_ad

Section 40A (3)

This query is : Resolved 
Profile Image

Profile Image

(Querist)
04 April 2008 Plz guide me on this topic.
If Pvt. Ltd. Co. has made payment towards Rent of office premises Rs.4000/- p.m. the aggregate amount for the year Rs.48000/- will be disallowed under section 40A(3) of the Act.
Payment made in inst. Rs.16000/- p.m. in 3 months
Profile Image

CA Saurabh Maheshwari

Profile Image

CA Saurabh Maheshwari (Expert)
04 April 2008 NO SUCH PAYMENT SHALL NOT BE DISALLOWED
Profile Image

Amit Sharma

Profile Image

Amit Sharma (Expert)
04 April 2008 Dear Mam,

Such expenses will not be disallowed as section 40A(3) clearly states that a invoice will be only disallowed when the payment of one bill exceeds 20,000.

Hope you are clear now.
Profile Image

R.V.RAO

Profile Image

R.V.RAO (Expert)
04 April 2008 UNDER SEC 40A(3),CASH PAYMENTS ON A SINGLE DAY FOR A SINGLE TRANSACTION IN EXCESS OF RS. 20000 WILL ONLY BE DISALLOWED.
SUCH EXP. SHOULD ALSO BE CLAIMED UNDER SEC 30 TO 37 OF INCOME TAX ACT.
FOR EXAMPLE IF A DONATION IN CASH IS NOT DISALLOWABLE(SINCE THIS IS NOT UNDER SEC 30 TO 37).
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details