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Sec 40A(3)

This query is : Resolved 
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(Querist)
14 May 2008 As per the provisions of Sec. 40A(3) if the payments were made by otherwise then account payee cheques / bank draft are disallowed.

1. Wheateher purchases also covered?

2. if some one has deposited cash in Creditors account through core banking system, wheather it is to be disallowed as per provision of Sec. 40A(3)?
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Jitender

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Jitender (Expert)
14 May 2008 1 yes
2 yes ,it is disallowed because ultimately u are making payment otherwise than account payee cheque.

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