If we incur cash expense on purchase of goods of 75000 (including GST). Can we pay and break the cash payment in 8 days to prevent the disallowance of section 40(A)(3) under income tax.
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Disallowance of section 40(A)(3) under income tax
Replies (5)
Quick Summary
No.. as expense against which payment needs to be made is more than 10000
Yes you can make payment on separate dates
Not possible ,If supplier gives you cash bill.
If supplier gives you credit bill then you can split the payment.
If supplier gives you credit bill then you can split the payment.
Yo cannot split payments against one invoice
if you have separate invoices in your hand against 75000 then only you can pay in cash
otherwise you can pay only 10000 in cash from total of 75000
if you have separate invoices in your hand against 75000 then only you can pay in cash
otherwise you can pay only 10000 in cash from total of 75000
For acedamic purpose, you may split the payment and get away from 40A(3) restrictions. But better is cheque/digital online payment.
Hope here you have GST invoice pucca bill and do not have URD bill
Hope here you have GST invoice pucca bill and do not have URD bill
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