stupid client or stupid me
Archit Jain (Practicing CA) (93 Points)
07 February 2009Archit Jain (Practicing CA) (93 Points)
07 February 2009
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 07 February 2009
If your another bill is of Rs.20000/- only and not exceeding Rs.20000/-, no disallowance u/s. 40A(3) for the payment made of Rs.40000/- covering payment of bill dt.02-01-2009 i.e.20000/- and balance payment of previous bill i.e.20000/- left out of Rs.60000/-. Please note that to attract disallowance u/s.40A (3), the amount of bill as well as amount of payment should be more than Rs.20000/-.
S.R.Associates
(Tax & Investment Consultants)
(115 Points)
Replied 04 September 2013
I think,It will get disallowed as the provision is "If you pay amount of Rs.20000 or more to one person in single day.It doesn't have to do with how many bills are there.
S.R.Associates
Tax & Investments Consultants
S.R.Associates
(Tax & Investment Consultants)
(115 Points)
Replied 04 September 2013
Aggregate Payment has to be seen: After the amendment w.e.f 2009-10 if a person makes more than one different purchases for cash from same person in excess of Rs 20000 in a single day even though on separate cash memos, such aggregate payment will be disallowed u/s 40A(3)
Pratik CA Final
(Article Assitant)
(102 Points)
Replied 04 September 2013
I thnk it will be disallowed and herewith providing an attachment.