Poonawalla fincorp
Poonawalla fincorp

sec. 40A(3)

This query is : Resolved 
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(Querist)
14 July 2011 Please let me know th reply of following:

If a person books a expense of Rs.14000/- on 11.07.11, then of Rs.15000/- on 12.07.11, then of Rs.11000/- on 13.07.11 of the same party, the whole outstanding of Rs. 40000/- was paid on 22.07.11..then section 40A(3) will not apply....

Please tell if i am right or not???
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Ravikant

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Ravikant (Expert)
14 July 2011 40A3 will apply and entire amount will be disallowed, as 40A3 is dependent on Payment

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