Section 40A(3)

Ramaswamy (Company Secretary) (83 Points)

08 November 2008  

Thanks for all who have given clarification about the said section.  But lot of people are telling about fixed  assets only.  I am asking about purchase of raw materials. Whether 20% will be disallowed when we make payment by crossed cheques. Since companies are making payment by account payee cheques.  Whether account payee cheques and crossed cheques are the same. Please clarify this.

Thanks in advance