Pgbp effects
Khushbu (Student) (203 Points)
11 January 2015
Hello
Plzzz explain me what does
Allowance & disallowance means?!?
What are the effect of same?!?
Thanks
Naman
(looking for job)
(38 Points)
Replied 11 January 2015
Allowance means that any expendture (also Loss) is allowed to be reduced from the Profit while computing Taxable profit ( Sec 30 to 38) Whereas Disallowance means that it will increase the profit by that amount if u have claimed it as expenditure and debited in the profit and loss account. ( Sec 40 and 40A deal with disallowance)
CAclubindia
