Poonawalla fincorps
Poonawalla fincorps

Section 40a(3)

This query is : Resolved 
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(Querist)
06 September 2012 if company give advance to creditor in cash for Rs.40000 and bill is not credited in that year . Will it be disallowed because of cash payment more than 20000?
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
06 September 2012 Yes, Disallowance is in The Next Year in Which You Book Purchase
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VARUN GUPTA

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VARUN GUPTA (Querist)
27 September 2012 and what about for current year?
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
27 September 2012 No Effect in Current Year.
Only Advance to Creditors Will Stand in Balancesheet

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