cash paid by director to supplier which is more than 20000 is it allowed
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Pls Help me Sec 40A(3)
Any payment more than Rs. 20000 other than by way of account payee cheque or bank draft will attract sec 40A(3). If director deposit more than Rs 20000 in bank account bof suppllier will be disallowed. There is specifically mentioned that payment should be in account payee cheque or draft. so it will be disallowed.
| Originally posted by : aruna maheshwari | ||
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Any payment more than Rs. 20000 other than by way of account payee cheque or bank draft will attract sec 40A(3). If director deposit more than Rs 20000 in bank account bof suppllier will be disallowed. There is specifically mentioned that payment should be in account payee cheque or draft. so it will be disallowed. |
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