hi
if there is a situation that cash ,of some amount exceeding the prescribed limit of rs.20000/-,was paid to the marketing people as travel advance under the cash payment voucher.then the cash was deposited in the bank account of the marketing people.he spend thru his card.whether this payment is diallowed or not.
Probabaly advance given to employees for reimbursement is not cover under the purview of Section 40A(3). But it is advisable to you that you shuld convey the message to mktg.people that not make any payment to third party more that 20000 OR if any payment exceeds 20000 then pay them by cheque.
Probabaly advance given to employees for reimbursement is not cover under the purview of Section 40A(3). But it is advisable to you that you shuld convey the message to mktg.people that not make any payment to third party more that 20000 OR if any payment exceeds 20000 then pay them by cheque.
HKC | Chartered Accountants & Business Advisors
Ludhiana
CA
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Chirag P Shah & Co. Chartered Accountant
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