How much money
subhagan sreerangam (7059 Points)
04 March 2019
How much money pay to cash as per cash purchase from unregistered person in IT Act.
4 Replies
Dharam
(CA FINAL)
(164 Points)
Replied 04 March 2019
Section 40A(3)(a) of the Income Tax Act provides that any expenditure incurred in respect of which payment is made in a sum exceeding Rs. 10,000/- in a single dayotherwise than by an account payee cheque drawn on a bank or by an account payee bank draft or through use of electronic clearing system, shall not be allowed as a deduction.
register or unregister person does not matter
register or unregister person does not matter
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