Disallowance of capital expenditure under section 35AD on cash payment :

 

 

CLAUSE(S) OF FINANCE BILL, 2017	PARTICUL ARS OF AMENDME NTS	SECTION	AMENDMENT / NEWLY INSERTED	APPLICABLE W.E.F.	BRIEF OF AMENDMENT
13&16	Disallowance of capital expenditure under section 35AD on cash payment	35AD	35AD	01st April 2018 (A.Y. 2018-19)	Any expenditure in respect of which payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank account, exceeds ten thousand rupees, no deduction shall be allowed in respect of such expenditure.( Previously no such disallowance if eligible expenditure was incurred in cash)