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Payment excd rs.20000/-

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(Querist)
26 June 2012 if any expenditure/purchase excd Rs.20000 (say Rs.90000/-) & payment thereof made on different days not excding 20000/- ( say Rs.15000/- on each day (6day * 15000=90000)will it be allowed u/s 40A(3)??
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
26 June 2012 payment or aggregate of payment made to a person in a day in excess of Rs.20000 is dsallowed u/s 40A(3)..
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
26 June 2012 No, payment in a single day should exceed Rs. 20000. Accordingly, it will not be disallowed
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