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Section 40A(3)
I would like to know that is there any amendment came regarding the cash limit for the payment to the transport operators, if so what is he limit??, If not what is the limit?
Replies (9)
No , there is no amendment . And payment in excess of INR 20000 otherwise by account payee cheque ,demand draft or ECS is not allowed.
No there is an amendment for cash limit 10,000
Amendment is in rest payments except transport operators
In case of transport operators, payment in excess of 35,000 in a Day other than by account payee cheque, demand draft would be disallowed.
In any other case, payment in excess of 10,000 in a day will b disallowdd
In any other case, payment in excess of 10,000 in a day will b disallowdd
OK ..Is this amendment applicable to advertisement expenditure also ??
Yes to all revenue expenses which are routed to p&l account
BT in CS study mat. (new syllabus) advertisement expenditure upto 20000 is allowed (given)
no except transporters for the rest of the payments the limit is 10000
For any expenses payment (including Advertisement exp) in cash max allowed Upto Rs. 10000/35000 (for transporter).
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