Respected Experts ,
Silver coins purchased to give a gift in a lottery ?
This expenditure is merely for the purpose of business development.
My query is such a expenditure is disallowed under section 40A(3). ?
2 Replies
Chitra Alagappan
(BCOM., CA Final)
(464 Points)
Replied 20 February 2012
Sec 40A(3) belongs to payments exceeding Rs. 20000/- is not paid by an account payee cheque or draft is disallowed. In your situation it is gift (i.e) for business Promotion. I think please correct your query in heading you mention 43a(3) but inside you put 40A(3).
GOPAL AGGARWAL
(DOING NOTHING)
(1339 Points)
Replied 20 February 2012
Expenditure incurred and payment made in cash will attract 40A(3)
Recent Topics
- DRC-01 Demand Notice for filing GSTR-9 Wrongly
- Income Tax for freelancing services
- Income Tax Return Filing Reg
- DRC 03 payment method
- GST Registration for Service Providers
- Tax for individual freelancing service providers
- LUT Number confusion! ARN or Reference Number
- Section 44ADA Query - 75 Lakh Limit Clarification
- GST on Rent RCM
- Clarification on GST Credit Note Rejection and Ret
Related Threads
CAclubindia
