amendment in section 40A(3)
This query is : Resolved
rachit jain
(Querist)
25 March 2009
Please explain recent amendment in sec 40A(3)with example
25 March 2009
Payment made in a day otherwise then by account payee cheque will be disallowed.
Ex. Bill No. 4123: amounting Rs.34,000.
You apid 18,000 on 25/3/09 at 10:00 am and balance 16,000 on 25/3/09 at 4:00 pm.
Although payment made at a time is less then 20,000 for single bill but in a day for single bill exceeding Rs.20,000. therefore complete payment will be disallowed.
Ex. Bill No. 4123: amounting Rs.34,000.
You apid 18,000 on 25/3/09 at 10:00 am and balance 16,000 on 25/3/09 at 4:00 pm.
Although payment made at a time is less then 20,000 for single bill but in a day for single bill exceeding Rs.20,000. therefore complete payment will be disallowed.
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