Sec 40(A)3

Dear Wani,

(1) Yes, It Attracts Section 40(A)3

(2) No, But It Attracts Section 269SS.

Regards,

Ayush Agrawal

ayushagrawal @ rediffmail.com

Dear Wanishree,

1) Sec 40A(3) will be attracted in the year in which expenses are claimed...Like Advance given in 2008-09,  but Expenses are booked in FY 2009-2010 then 40A(3) will apply in FY 2009-2010.

2) Friend Ayush is rite..........