Section 40A(3)

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....ection 40A(3)<br> Query (Issue) Started By: - Sheetal Bansal Dated:- 6-8-2014 Last Reply Date:- 6-8-2014 Income Tax<br>Got 1 Reply<br>Income Tax<br>If a company paid in cash salary to his employee sup....

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....pose 56000 p.m.and it includes all the allowances and perquisites.whether it is covered under Payment Exceeding as there is one salary slip for one Employee. Case 2: If a company paid in cash salary ....

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....to an employee 38000 p.m. only basic means nothing allowance or Perquisite then whether this cash payment is covered under payment Exceeding. Case 3: If an employee go for tour (business) and company....

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.... pays him 40000 in cash as traveling Allowance then whether this is covered under Payment Exceeding or not. if not then why it is not covered. Reply By CA GOPALJI AGRAWAL: The Reply: Case 1 and 2 wo....

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....uld hit by the provision of section 40A (3). In case 3, if employee does not make the single payment exceeding the limit, then provision would not apply.<br> Discussion Forum - Knowledge Sharing ....