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Sec 40 a (3)

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(Querist)
29 June 2012 There is a frieght bill of Rs.40000/-. The whole amount is paid in cash to the truck driver. Is this expense allowable? I not so, is there any way out to make this expense allowable?
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
29 June 2012 AS PER SEC 40A(3) IN ONE DAY WE CAN PAY TO TRANSPORTER MAXI Rs 35000. ALLOWED AS BUSINESS EXPENSES.

AS YOU SAY YOU PAID RS 40000 EXCEEDING THE LIMIT..TOTALLY DISALLOWED AS PER ABOVE SEC.

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