25 November 2009
i want to clear the doubt abt sec 40a3.my query is if A makes payment of suppose Rs 53000 in respect of invoices of Rs 18000 , 17000 , 18000 at different dates to B so can the deduction be allowed and plz z refer the case related to it. thank u
25 November 2009
Dear Chayan if payment in a single day Exceeds Rs. 20000 to single party then whole of such expenditure will be disallowed. but in your case A makes payments to B at different dates, also none of the payments exceeds Rs. 20000/- so nothing will be disallowed
CAclubindia
