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Sec 40A(3)

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(Querist)
08 September 2009 Can payment exceeding Rs20,000 be made to transporter for AY:09-10.

If Yes please give reference of any circular also.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
08 September 2009 No. The payment exceeding Rs.20000/- and upto Rs.35000/- can be made in cash only from AY 2010-11, as this amendment has been brought by Finance Act 2009 only in this budget and shall be applicable form FY 2009-10.

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