01 March 2014
If a single payment is made above 35000 it will b disallowed. But as per ur case the Memo No. & party's r different so it is fully allowed. The limit is not based on single day But based on single payment to the same party in same Vchr or memo No.
01 March 2014
if 4 payment 25000 with different memo or for trucks are allowed then any limit on payment if payment made to single transporter with different memo no.?
and is it attract rule of tds to payment to contractor and subcontractor
01 March 2014
It will charge TDS u/s 194C. And try to understand, if there r 2 memos with amount of Rs. 25000 each then it is fully allowed, but suppose the memos r of amount Rs. 35001 & Rs 14999 then 2nd memo is allowable & the 1st one will b disallowed.
01 March 2014
suppose company consider one memo is one truck in this situation if single memo no of eg.458 with 2 voucher of 30000 each in single day for same transporter... then plz explain ....
04 March 2014
Mr hardik Bunha, It is known to Chandan that if PAN is quoted then 0% TDS is deducted(i.e, no TDS) & if no PAN then it is 20%. But me saying abt 40A(3) & not TDS.
CAclubindia
