PAYMENT OVER 20000 40(A)3

JINESH SHAH (PRACTICING CA) (151 Points)

14 September 2010  

Hi Friends...

Under 40(A)3 we can make payment over 20000 by cash for more then one bill if each bill is below 20000. I think it is allowed as expenses but i want to know if there are any circular or case law regarding this.. Its urgent.,.

Thanx...