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sec 40(A)(3)

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(Querist)
06 November 2009 whether advance to employee of Rs 25,000/- for official tour expenses attract disallowance u/s 40A(3)?
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
06 November 2009 Dear Anand
Sec 40A(3) attracts only if there is payment of any items which comes under Trading and P&L A/c in excess of Rs.20000, since in your case there is advance which is not expence so u can give advance of any amount
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
06 November 2009 agree
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Sandeep Kumar Sahu

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Sandeep Kumar Sahu (Expert)
07 November 2009 Agreed with Shahzad but one thing you have to take care of Sec 269SS of Income Tax Act. It may come under Tax Audit.
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CA Deepak S

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CA Deepak S (Expert)
07 November 2009 In opinion if at the time of claiming the actual expenditure if the same exceeds Rs20000 then it will atract 40A(3)

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