Section 40a(3) cash payment exceeding rs.20000
This query is : Resolved
11 July 2015
hi all...
please tell me limit under section 40A(3) is per person or per bill....suppose if 3 invoices issued in a day of each less than rs.20000 nd full payment is made on the same day then whether it is allowed or disallowed as per section 40A(3)????
please tell me limit under section 40A(3) is per person or per bill....suppose if 3 invoices issued in a day of each less than rs.20000 nd full payment is made on the same day then whether it is allowed or disallowed as per section 40A(3)????
11 July 2015
The limit is per person per day. It will be disallowed.
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11 July 2015
sir, thank u. but someone is telling me "any expenditure" word used in section means one bill amount
11 July 2015
No they are wrong........
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