DIS ALLOWANCE UNDER IT ACT - UN STAMPED PAYMENT VOUCHER

[SOPL SOPL]

Dear Sir/Madam

If the payment voucher exceeding 5,000 but not exceeding 10,000 in value is not stamped, is it disallowed under The Income Tax Act,1961 under following cases-

1.Bill exists

2.Bill not exists

AI Summary

Unstamped payment vouchers questioned for disallowance under income tax when value exceeds the statutory threshold and bill status varies. Whether a payment voucher that is unstamped and whose value lies between the statutory lower and upper thresholds leads to disallowance under the Income Tax Act, contrasting the situation where a bill exists with the situation where no bill exists, and querying whether presence or absence of the bill changes the tax allowability of the expense.