43b disallowance


Disallowance of depreciation on capital expenditure made in cash

Under the existing provisions of the Act revenue expenditure incurred in cash exceeding certain monetary threshold is not allowable as per sub section 3 of section 40A of the Act except in specified circumstances as referred to in Rule 6DD of the Income tax Rules 1962 However there is no provision t

Expenditure upto 35000 in cash allowed to transporter

Expenditure made of more than 20000 in cash allowed to transporter Enhancement of limit for disallowance of expenditure made in the case of transporters Under the existing provisions of the Income tax Act where an assessee incurs any expenditure in respect of which payment in excess of Rs 20 000 is

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Experts Opinions

Disallowance under wrong section of income tax act

The A O had disallowed Interest expenditure claimed by the Assessee against Income from House property by invoking provisions of Section 36 1 iii of the Act instead of Section 24 b giving reasons that the Assessee had sufficient borrowed funds and given them on loan without charging interest Is this


It is a common practice by jewellers to purchase old and used jewellery from customers which is usually above 10 000 in cash They include it in purchases and put the point that payment for purchase from registered dealers is always made through A c payee cheque or Rtgs however it is impracticable to

Disallowance of expense for mat

The ITO is arguing that the expense to the extent of 5 of average investment will be disallowed hence the book profit which in turn will increase to this extent and the MAT will have to paid on this increased book profit To my understanding this is incorrect PLEASE advice

Penality or disallowance for cash payment above rs. 20,000/-

Respected Experts We are private limited company Can we pay Rs 22 500 against expenses of repairing maint of machinery in cash If we do the above Which amount will be disallowed except this any penalty will arise Kindly advise Regards Rakesh Kumar

disallowance of 234 A/C/D interest in 3CA/CD

pls suggest me where I disallowed that amount


Disallowance of expenses

Can we paid cash more than 10000 for reimbursement of expenses in a day can we paid to sundry creditor more than 10000 in a day

43B on Interest payable to NBFC ?

Is interest payable to NBFC covered by section 43B of Income Tax Act

Disallowance u/s 43b of it act, 1961

Assessee is a Pvt Ltd Company Field I T R on 30 03 2015 for FY 13 14 Statutory Audit Report was dt 15 09 2014 Since turnover was less than 100 Lacs No Tax Audit Needed Regular Tax Rs 50000 MAT Calculation Book Profit as per provisions of section 115 JB of I T Act 1961 Rs 363260 Tax u s 115 JB is 18

Disallowance of expenses in audit report due to non deduction of tds

Assessee liable under compulsory audit u s 44AB has paid job work expenses to one company But the TDS was not deducted Hence expense u s 40A will be disallowed My question is In which point disallowance should be made In Point 21 b ii or point 34 a or both in form 3cd

14a disallowance

I see a exempt income in the computation of income via 1 Long term capital gains on sale of shares and 2 Dividend Income for a company How to calculate 14A disallowance Request to explain clearly

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Section 40A(3) disallowance of expense made in cash & its exceptions

Section 40A 3 of the Income tax Act The payment made more than 20 000 in cash and its result Section 40a 3 of the Income tax Act provides that any expenditure incurred in relation to business is made in a sum exceeding Rs 20 000 in a single day otherwise than by account payee cheque or draft shall n

Income Tax Act - 1961 Sec 14A disallowance

Introduction 1 Section 14A was first inserted by the Finance Act 2001 However same was inserted with retrospective effect from 1 4 1962 The inserted section reads as under 14A Expenditure incurred in relation to income not includible in total income For the purposes of computing the total income und

Failure to deduct tax at source - disallowance restricted to 30%

As per the existing provision of section 40 a ia any payment made by way of interest commission brokerage rent royalty fee for professional services fee for technical services payment to a contractor or sub contractor on which tax is deductible at source but is not deducted is not allowed as deducti

Disallowance of input tax credit on the ground that seller is bogus or cancelled dealer- Part II

Another situation which in many of the cases under the Punjab VAT which dealers are facing is the disallowance of input tax credit on the ground that the registration of seller of the goods has been cancelled or normally it is stated in the assessment orders that the person from whom goods have been

Disallowance of input tax credit on the ground that seller is bogus or cancelled dealer

The system of VAT was introduced in the sales tax law to bring more transparency efficiency to remove tax cascading etc The difficulties which may arise in any system comes to picture only when the system is practically implemented One of the major difficulties being faced by the dealers is the disa

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Updated on : 4/25/2017 8:01:21 PM

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