dear members
Can a person make a cash payment above 20000 to a transporter on the basis having 3 bilty for 3 type of goods received in a single vehicle? each bilty is below 20000.
Thanks in advance
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 12 December 2009
The limit for cash payment made for plying, hiring or leasing goods carriages has been raised to Rs. 35,000/- w. e. f. 01.10.2009
Rajan Pasrija
(ACCOUNTANT)
(53 Points)
Replied 12 December 2009
I am totally agree with Aditya
Cash Payment u/s 40A(3) & (3A) has been increased in the case of payments made for plying, hiring or leasing goods carriges from Rs. 20000 to Rs. 35000 - This will effective from 1st Oct. 2009
swohra
(none)
(537 Points)
Replied 12 December 2009
Its ok. Sir I want to know that whether he can pay the sum above limit by this way and can ignore cash limit above 35000/-.
Thanks in advance...
MITU....
(ARTICLE Assistant)
(210 Points)
Replied 12 December 2009
no if he ignores the limit deduction in respect of payment will not be allowed as deduction
S K SINGH
(CA FINAL)
(42 Points)
Replied 12 December 2009
Hai Freinds,
Amounts not deductible in respect of expenditure exceeding Rs.20000/- (Rs.35000/- from 01-10-09)
Exception:- Rule 6DD
Kalpesh Chauhan,
(Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))
(8310 Points)
Replied 03 September 2010
Vicky
(CA, LCS,MCOM,)
(136 Points)
Replied 03 September 2010
dear swohra...........40A(3).......is attracted if the payment and expenditure both are greater than 20000/35000 (for transporters).....so it wont apply in ur case
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