Sec 40a(3) cash payment more than 20k
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2016
sec 40A(3) for payment of exps in day above 20k will applicable to partnership firm which is case of non-audit. Please advice.
same sec. will able for purchase of fixed assets in cash above 20K
same sec. will able for purchase of fixed assets in cash above 20K
09 April 2016
Yes Partnership firm also have to follow sec. 40A(3) even if they are not under audit.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
11 April 2016
whether same is applicable to Proprietorship also if he is not under audit??
11 April 2016
Yes sir. Same applicable..!!!
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