Kindly explain about sec.40a and its sub sections of incometax act or what is limit of payment or Expenditure by way of cash. Actually my doubt I received a service from a professional for one event and I have payble Rs.30,000/- for that event. So can I pay the same in 3 or 4 installments by way of cash. Kindly clarify it.
" Actually my doubt I received a service from a professional for one event and I have payble Rs.30,000/- for that event."
Being single transaction......... single invoice........ break up / installments not allowed......
More details: section-40a3
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
