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Restriction on payment of expenditure in Cash u/s 40A(3) - Cash payment in excess of ₹ 10,000 in a single day to a person shall not be allowed - Budget 2017-18 w.e.f. AY 2018-19

Dated:- 2-2-2017 - Clause - 015 - Amendment of section 40A. THE FINANCE BILL, 2017 Clause 15 of the Bill seeks to amend section 40A of the lncome -tax Act relating to expenses or payments not deductible in certain circumstances. Sub-section (3) of th .....

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day, no deduction shall be allowed in respect of such expenditure. It is proposed to amend the said sub-section so as to provide that where the payments or aggregate of payments in a day to a person otherwise than by an account payee cheque or accoun .....

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