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purchase exceed 20000 in cash of movable property

Tax queries 317 views 3 replies
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CA
180 Points Posted on 25 February 2017
which section of it act applicable if I purchase movable property exceed 20000 in cash and what will be the consequences..

thank you for ur reply
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On 25 February 2017 at 12:00 Report
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Professional
401 Points Posted on 25 February 2017
Sec. 40 A(3): Where any expenditure in respect of which payment is made in
excess of Rs. 20,000 at a time otherwise than by Account-payee cheque or
draft, 100% of such payment shall be disallowed, In Budget 2017 Limit Reduce to Rs 10,000 to Promot Digital Trancations.
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On 25 February 2017 at 12:30
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CA
180 Points Posted on 26 February 2017
thanks for Ur reply
whether expense in sec. 40 a 3
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On 26 February 2017 at 12:14
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180 Points Posted on 26 February 2017
include capital expenditure
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On 26 February 2017 at 12:15


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