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Section 40A(3) of income tax act, Income Tax

Issue Id: - 111538
Dated: 22-2-2017
By:- Raj Malik

Section 40A(3) of income tax act


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Kindly suggest whether following exp will be disallowed or not u/s 40A(3)

1. Single transaction(Single voucher) is made in excess of ₹ 20,000 in which payment is made to different persons for diff exp.

2. Single voucher is made for the exp. incurred during whole month is more than ₹ 20000 for same party.

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