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Section 43B and Section 40(ia) of the I. T. Act, 1961,

Nitil Kr. Agarwala (Persuing CS) (264 Points)

09 November 2010

Respected Sir,

I am asked to furnish details along with proofs of payment made before the date of filing the return for payment referred to Section 43B and Section 40(ia) of the I. T. Act, 1961,

Kindly suggest me what to furnish.

Kindly guide me on urgent Basis.

Thanking You,

Yours Faithfuly,

Nitil Agarwala

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5 Replies

Arvind Sharma (ACA) (1432 Points)
Replied 09 November 2010

furnish with respect to those figures which you claim as deduction which are disallowed u/s 43B in Computation of Income in the respective ROI.

same do in respect of Sec 40(ia)...

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Arvind Sharma (ACA) (1432 Points)
Replied 09 November 2010

and this is not 40(ia)., it is 40(a)(ia)

Nitil Kr. Agarwala (Persuing CS) (264 Points)
Replied 09 November 2010

But Sir,
as far as i am concerned, there is no such disallowed in our balance sheet.

But our file has been in Scootny, and i am asked to furnish the above information along with the proof.

So, i cant judge what to furnish to the ITO

kindly suggest me

Thanking You,

Yours Faithfully

Nitil Agarwala

virender kumar (ASSISTANT MANAGER-ACCOUNTS & FINANCE) (45 Points)
Replied 09 November 2010

REGARDING 43 B : THERE MUST BE SOME AMOUNT PAYABLE W.R.T DUTY, CESS, TAXES, UNDER ANY OF THE LAW OR PF, ESI DUES OR INTEREST ON LOAN TO PAYABLE TO PUBLIC FINANCIAL INSTITUTIONS OR SCHEDULED BANKS AS ON THE LAST DAY OF THE FINANCIAL YEAR AND APEARING IN THE BALANCE SHEET GENERALLY KNOWN AS STATUTORY DUES... GIVE THE PAYMENT PROOF FOR THE SAME LIKE CHALLAN/ BANK CERTIFICATE ETC...

40 (a)(ia) : THERE MUST BE SOME TDS PAYABLE AS PER YOUR BALANCE SHEET... GIVE THE PAYMENT PROOF FOR THE SAME.....

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