CA.MANISH AGARWAL (Executive Officer (Accounts) ) (45 Points)
08 September 2011Can any one help me on the query whether Cash Purchase & Cash Sales over 20000/- is disallowed u/s 40A(3)???
Pls reply if you know the exact answer...
srinivass
(CA Final)
(2466 Points)
Replied 08 September 2011
if u maintain one enterorise then cash purchases made by you more than 20000 is not allowed as expenditure but no obligation onu for cash sales more than 20000 but that sales atomatically disallowed as expenditure that sale party....so no need of about cash sales > 20000
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