Sec 40a(3) cash payment above 20000
This query is : Resolved
29 July 2014
cash Payment made to creditors above 20000 is allowable or not?
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/-
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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