Tax Audit
This query is : Resolved
CA Ysil Karunai
(Querist)
04 June 2009
Dear Sir,
What is the difference between Section 40A(3) and 269SS and 269T
What is the difference between Section 40A(3) and 269SS and 269T
CA.Tarun Maheshwari
(Expert)
04 June 2009
Section 40A(3) provides for disallowance of payment of any expenditure if cash is given more then Rs.20000/- in a single day against that expenditure. Section 269SS and 269T provides for acceptence or payment of Loan Amount by way of crossed cheque only if the amount of loan repayment or acceptence is more then Rs.20000/-.
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