u/s 40A(3)
This query is : Resolved
14 November 2008
Dear sir,
As per section 40A(3), if a cash expenses which exceed Rs.20,000 will be dis allowed. Can we split the amount to avoid the dis allowance as per the above said section. ( for ex. if we are going to pay the labour charges for a sum of Rs.38000 by cash. During this time can we booked as two entries like Rs.19000 each.
Pls clarify
As per section 40A(3), if a cash expenses which exceed Rs.20,000 will be dis allowed. Can we split the amount to avoid the dis allowance as per the above said section. ( for ex. if we are going to pay the labour charges for a sum of Rs.38000 by cash. During this time can we booked as two entries like Rs.19000 each.
Pls clarify
14 November 2008
No. They will be aggregated for the purposes of 40A(3).
14 November 2008
You should have two bills in different dates, then you can pay bill by bill but then also payment should be in different dates...
Tip: Pay by cash on Bank Strike Day
Tip: Pay by cash on Bank Strike Day
17 November 2008
Aloo Supply co 121 ITR 680 SLP dismissed by SC :
More than one payment in single day:
When a person makes various payments at different times during a day to the same person and each of such payment is below rs.20k sec 40A(3) is not applicable, even if the aggregate of such payments exceeds rs.20k, no disallowance can be made under this section
More than one payment in single day:
When a person makes various payments at different times during a day to the same person and each of such payment is below rs.20k sec 40A(3) is not applicable, even if the aggregate of such payments exceeds rs.20k, no disallowance can be made under this section
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Taxation on LTCG for property sold after 24JUL2024
- STCG FOR GOLD ETFs
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- GST ON DAMAGED GOODS
- Last year TDS Claim
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
