section 33AB abd 33ABA

 


Querist : Anonymous (Querist) 28 June 2010

If any amount is withdrawn from the deposit account referred to in section 33AB or 33ABA during the previous year, and it is not utiliesed during the previous year.

So the amount so not utilized shall be taxable as business income of the previous year in which it is withdrawn. Later on the amount (which was not utilized) is utilized for expenditure in subsequent previous year.

Would these expenditure shall be allowed as expenditure or not?




You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :






close x