exp allowed u/s 40a
This query is : Resolved
08 April 2016
whether payment made to creditor in cash in excess of rs 20000 is eligible for deduction or not. or the purchase made from these creditor will be disallowed by assessing officer.
08 April 2016
Dear
The purchases will be disallowed since it exceeds the limit of rs 20000.
Section 40A(3) gets attracted.
The purchases will be disallowed since it exceeds the limit of rs 20000.
Section 40A(3) gets attracted.
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