Does Section 40A(3) Attract on CASH REFUND more than 20,000/- to CUSTOMERS, Which is received as ADVANCE from them impending to make SALE to them ..??
2 Replies
VIJAY KUMAR B
(Articles)
(37 Points)
Replied 28 July 2011
As the Sec-40a(3) relates to only for the expenditure incurred, since the amount refunded to the customers is not an expenditure it is not appilcable
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