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Income tax section 40A(3)
can advance paid to employee rs 12000 allowed as per section 40a(3) because payment exceed 10000 in case
Replies (4)
Is it in cash??
Yes disallowed as no cash payment allowed more than Rs. 10000/-
If it is in cash then it will be disallowed
The advance is not expense but shown under other current assets so no need to claim exp and thus no question to disallow it
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