is b2b purchase any cash limit u/s 40 (A) 3
Bhagwandass Puranchand (132 Points)
26 July 2018
is b2b purchase any cash limit u/s 40 (A) 3
5 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 26 July 2018
@ Bhagwandass.,
As per income Tax rule the limit just Rs 10k only...
As per income Tax rule the limit just Rs 10k only...
Vinod Babu
(24191 Points)
Replied 26 July 2018
Section 40A(3)(a) of the Income Tax Act provides that any expenditure incurred in respect of.
which payment is made in a sum exceeding Rs. 10,000/- in a single day otherwise than by an account payee cheque drawn on a bank or by an account payee bank draft or through use of electronic clearing system, shall not be allowed as a deduction.
which payment is made in a sum exceeding Rs. 10,000/- in a single day otherwise than by an account payee cheque drawn on a bank or by an account payee bank draft or through use of electronic clearing system, shall not be allowed as a deduction.
Raman Singla
(Accounts Services)
(167 Points)
Replied 29 July 2018
Is purchase falls under expenditure?????
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 29 July 2018
Yes... any of the Expenditure.
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