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40a(3)

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 June 2014 IF ASSESSEE RECEIVES CONTRACT LABOUR SERVICE FOR RS.35,000/= AND CREDITED THE SUPPLIER AND PAYMENT IS MADE IN 2 EQUAL INSTALLMENTS IN TWO DAYS, WILL THE 40A(3) APPLIES?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
18 June 2014 Sec.40A(3) will apply where the payment exceed Rs.20000 by cash a day. since you paid 2 different dates and also not exceeding Rs.20000/- so sec.40A(3) not apply

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