Section 40a(3)
Hai guyz,
Will the disallowance exist if the payment (sales incentive) in excess of 20000 is made in kind. For example bullion or jewels
Replies (1)
If the payment is made in kind by an assessee doing business in bullion of jewels (as mentioned in your query), then there is only an adjustment entry in books and section 40A(3) will not be applicable. If you are buying the same by paying cash, and that payment is above Rs.20000/- then it will be applicable.
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