help plz!!!

630 views 2 replies

dear friends...

i have a doubt u/s 40a(3) for cash payments made exceeding 20000 in a day...

my question is..... if i have five different purchase bills for different dates of Rs.1 lac each from a single person.....n i want to make payment on one single day.....so what should be my maximum payment so as not to be charged under section 40a(3):

a. Rs.20000 per bill, i.e. 20000*5=100000

or

b. only Rs.20000 irrespective of number of bills.

Replies (2)
a. Rs.20000 per bill, i.e. 20000*5=100000

 

To atttract 40A(3)

  • more then Rs.  20000
  • per person
  • per bill
  • in cash
  • in a single day

 

so if 2 bills are there in a day , not exceeding rs. 2000;  40A(3) Attracted

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details