Tag Archives: Section 40A (3)

Section 40A(3)- Disallowance of cash payments

Section 40A(3) of Income- Tax Act 1961 (India) Budget 2017 updates – Amendment in Section 40A(3) : As per Finance Act 2017  w.e.f 01.04.2017 i.e FY 2017-18 (AY 2018-19) reduced threshold of cash payment to a person from twenty thousand rupees to ten thousand rupees in a single day; i.e any payment in cash above… Read More »