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40(A)3

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(Querist)
30 July 2010 please tell me whether 20000/- payments covers credit card?
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
30 July 2010 I hope credit card payment will not be covered U/s 40 A (3)
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
30 July 2010 No it does not cover credit card.

please check above link---

http://www.simpletaxindia.org/2009/12/payment-exceeding-20000-40a3-exceptions.html
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
30 July 2010 Thank you CMA sanjay Gupta for confirmation of the above view

Conclusion

Credit card payment doesnot fall within the purview

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