![]() ![]() 2018-19) at a time otherwise than by Account-payee cheque or draft or use of electronic clearing system through a bank account, 100% of such payment shall be disallowed. 40A(3): Where any expenditure in respect of which payment is made in excess of Rs. Section 40A(3): Disallowance of Expenses incurred in Cash Let us briefly understand some of such provisions here. ![]() Specially the Income tax Act is amended and provided with disallowances and stringent penal provisions for various types of cash transactions. The Government of India with an intention to evade black money and to discourage the cash transactions time and again taking various steps.
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