29 July 2014
as per Section 40A(3)(a)any expenditure incurred in respect of which payment is made exceeding Rs.20,000/- otherwise than by an account payee cheque or by dd, shall not be allowed as a deduction.
though if payment is being made for plying, hiring or leasing goods carriages then Limit for these section is Rs 35000/-,instead Of 20000/-
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