Section 40a(3)
Deep Garg (Accountant) (259 Points)
05 April 2017
DEAR RESPECTED MEMBERS,
IS SECTION 40A(3) OF INCOME TAX APPLICABLE ON SUNDRY CREDITORS AND SALARY PAYMENTS
Section 40A(3)(a) of the Income Tax Act provides that any expenditure incurred in respect of which payment is made in a sum exceeding Rs. 10,000/- in a single day otherwise than by an account payee cheque drawn on a bank or by an account payee bank draft or through use of electronic clearing system, shall not be ..allowed as a expense
yes applicable on salary and creditors also
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