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is b2b purchase any cash limit u/s 40 (A) 3

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is b2b purchase any cash limit u/s 40 (A) 3
Replies (5)
JCb se mitti khodai me gst rate kya hai
@ Bhagwandass.,

As per income Tax rule the limit just Rs 10k only...
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 day otherwise 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.

Is purchase falls under expenditure????? 

Yes... any of the Expenditure.


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