cash paid by director to supplier which is more than 20000 is it allowed
Menu
Pls Help me Sec 40A(3)
Any payment more than Rs. 20000 other than by way of account payee cheque or bank draft will attract sec 40A(3). If director deposit more than Rs 20000 in bank account bof suppllier will be disallowed. There is specifically mentioned that payment should be in account payee cheque or draft. so it will be disallowed.
| Originally posted by : aruna maheshwari | ||
 |
Any payment more than Rs. 20000 other than by way of account payee cheque or bank draft will attract sec 40A(3). If director deposit more than Rs 20000 in bank account bof suppllier will be disallowed. There is specifically mentioned that payment should be in account payee cheque or draft. so it will be disallowed. |
 |
Recent Topics :
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
Related Topics :
CAclubindia
