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Section 40a( payment in cash more than 20,000/- in day

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(Querist)
25 September 2011 is the provision of section 40A applicable to purchase of Fixed Assets,,,, where the assesee pays more than Rs 20000 in cash
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 September 2011 Sec.40A(3) apply on the expenses claimed in p&l a/c. since the fixed assets not debited in p&l a/c. this section practically not apply on fixed assets. but as per section it mentioned apply on purchase of depreciable assets also
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