TaxTMI 
TaxTMI 
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
DIS ALLOWANCE UNDER IT ACT - UN STAMPED PAYMENT VOUCHER
15 Nov 2021 
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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. (AI Summary)
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. (AI Summary)