Hi the company I am auditing is running contruction business. For meeting expendinture sometimes they deposit money into the suppiers/ clients bank account directly (above Rs 20,000). Will such expenditure come under 40(A)(3) and get disallowed or is it ok to continue so? Kindly reply...
Money deposit above rs 20,000 to client's bank account ?
Merina (Student) (310 Points)
16 April 2013