Limits reduced to Rs 10000 from 20000 for cash expenses u/s 40A(3)

Last updated: 02 February 2017

Measures to discourage cash transactions The existing provision of sub-section (3) of Section 40A of the Act, provides that any expenditure in respect of which payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee ba

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