What is Section 40A(3)

Business expenditure paid in cash to a person in a single day is allowed up to Rs. 20, 000. If you make different payments at a different time in a single day which aggregate to more than Rs. 20, 000 then the entire expenditure will be disallowed as business expenditure. In the case of plying, hiring or leasing goods carriage business the limit of cash expenditure under … [Read more...] about Business Expenditure in Cash is permitted up to Rs. 20, 000 – Section 40A(3)