Please tell me cash sales amounts we received more than 20,000 limit it is allowed or disallowed under income tax system suppose we received 86500/- amount against sales by a single person.
Regards Ramesha.m
Guest
Guest
(Expert)
04 September 2012
The disallowance u/s 40 A 3 is for expenses paid and not for income accounted. In the above case the disallowance will be made in books of the person making the payment.
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