Tag Archives: Section 40A(3)

Section 40A(3) will not hit if purchase from single person and value of each invoice is less than Rs 20000

By | October 4, 2015

If purchase is effected from a single person by way of several bills/invoices and if value of each bill/invoice is less than Rs. 20,000 then payments made to settle each bill/invoice would not be hit by provisions of section 40A(3), as each bill/invoice has to be considered as a separate contract IN THE ITAT COCHIN… Read More »