11 March 2008
IN THE FINANCE BILL 2008 PAYMENTS ARE MADE IN EXCESS OF RS,20000/- ARE TAXABLE IN THE HANDS OF ASSESSE WHETHER I PURCHASE GOODS IN CASH IN A SINGLE DAY LESS THAN 20000/- BUT TOTAL PURCHASE IS RS 75000/-THAT IS FOUR BILLS WHETER THE ABOVE PURCHASE IS TAXABLE IN THE ABOVE SECTION
11 March 2008
Take Care if the purchase of 75000/- is made from one person,than it attracts sec 40A(3) under new provision even if it is made against four invoices
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