40 (a) (3)
This query is : Resolved
07 January 2017
SUPPOUSE I AM A TRADER OF ORNAMENTS . I AM PURCHASING GOODS WORTH RS.300000 FROM A REGISTER DEALER . AND MAKE PAYMENT TO HIM IN CASH OF RS.19000 IN DIFFRENT DAYS AND SQUARE OF BILL OF RS.300000 . IS THIS ALSO WOULD BE DISALLOWED ?
07 January 2017
Sec 40 (a) (3) talks of payment exceeding Rs 20000 /- in a day. Your expenditure will not be disallowed
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