Dear friends.. pls clarify...
Whether Sec. 40 (A) 3 will applicable to advance for the expenses (traveling expenses) if the payment exceeds Rs.20,000/- other than by way of A/c payee cheque or draft...?
Dear friends.. pls clarify...
Whether Sec. 40 (A) 3 will applicable to advance for the expenses (traveling expenses) if the payment exceeds Rs.20,000/- other than by way of A/c payee cheque or draft...?
read the section , you wil find the answer
| Originally posted by :SUBBIAH K | ||
| " | Dear friends.. pls clarify... Whether Sec. 40 (A) 3 will applicable to advance for the expenses (traveling expenses) if the payment exceeds Rs.20,000/- other than by way of A/c payee cheque or draft...? |
" |
ya it would applicable in this case also.
I beg to differ from Sampat and Piyush Aggarwal. The section provide that any EXPENDITURE should not exceed Rs. 20000/- in cash and therefore advance will be not covered ( well settel rule)
Regards
Piyush
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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