Could you please explain if dealer makes cash payment above Rs. 20000 on account of sales made by him to Head office is this disallowed under tax.
Thanks in advance.
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CASH PAYMENT DISALLOWED ABOVE Rs. 20000
Replies (2)
Yes, disallowed u/s 40A(3). you mean head office means goods or items sold firm or company. Please refer section 40A(3). If not under stood please write clear transaction to sairam_tirumala @ rediffmail.com. i will explain you or call 9010497554 if u in A.P.
Thank you
OM SAI SRI SAI JAI JAI SAI
I think this is not a expense payment but it is reimbursement of the money received on sales of goods by branch to HO. Therefore it will be not disallowed
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