16 December 2013
Bill was presented to us by our furniture supplier of Rs 30000 we paid him advance of Rs 15000 in cash on 30.11.2013 and rest of the amount of Rs 15000 in cash on 16.12.2013 will the entire amount of Rs 30000 will get disallowed under sec 40A(3)
16 December 2013
No. Furniture is not an expenditure of revenue in nature. . Even if you are a dealer in furniture, cash payments are in 2 different dates and each payment is below Rs. 20000, so Section 40A(3) is not applicable here. .
Querist :
Anonymous
Querist :
Anonymous
(Querist)
16 December 2013
Thank you sir' Sir I want to know that paint & electric work done on a new office will be revenue expenditure or capital expendeture