Sir What is the limit under section 40A(3)… As per your Notes ₹20000/-…But In my Knowledge There is ₹10000/-… Then which one is Right For November Exam

Questions › Sir What is the limit under section 40A(3)… As per your Notes ₹20000/-…But In my Knowledge There is ₹10000/-… Then which one is Right For November Exam

0 Vote Up Vote Down

Dinesh pareek asked 7 years ago

1 Answers

0 Vote Up Vote Down

audit Staff answered 6 years ago

I think 10,000 as this limit gets applicable from FA 2017….and FA 2017 not applicable for our exam.
Same is not applicable for DT exam… This is to the best of my knowledge.

As correctly pointed out by shubham, for Nov 17 Finance Act 2016 is applicable and change from 20k to 10k is by Finance Act 2017
So follow limit of 20k.