43b disallowance

News

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

More News



Experts Opinions

Input credit disallowance


Dear Sir Section 16 pertaining to input credit under GST has one clause as under PROVIDED FURTHER that where a recipient fails to pay to the supplier of services the amount towards the value of supply of services along with tax payable thereon within a period of three months from the date of issue o

Penalty for 271c or 30% disallowance


Dear Experts Pls clarify weather penalty for non deduction of TDS shall attract u s 271C or only 30 shall be disallowed Regds Anuj

Where to enter sec 43a disallowance in itr-6 ?


Where to enter Sec 43A disallowance in ITR 6 Read more at http www caclubindia com experts ask query asp

Disallowance u/s 40a(ia)


Does second proviso to sec 40a ia apply even in case of deduction but non payment of tds that is to say no disallowance under said section if assesse deducts but does not pay before filing returns what is the form to be filed eg form 26a applies for non deduction of tds

43b disallowance


A company was asked to pay interest on PF which stood payable even after the return was filed for the respective AY Whether this delay attracts provisions of 43B Under the head dues in relation to any other Act or Law

Discussion

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

Doubt regarding disallowance of expenditure

For a co operative society provisions has been charged to profit loss a c But as per Income tax act those provisions are to be disallowed under which section should those provisions be disallowed

Income tax act u/s 43b

Whether interest of NCDC NATIONAL COOPERATIVE DEVELOPMENT CORPORATION term loan is hit by the provision of 43b

More Messages






File Download


More Files

Articles

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


More Articles


Updated on : 1/14/2017 10:28:09 AM


EY


KPMG


Talentedge


wiley


CCI Jobs

× Online Coaching My Enrolled Courses
Articles Forum News Experts Exams Share Files Income Tax Accounts Career Corporate Law Service Tax Video Judgements Rewards Top Members Events Albums Find Friends Featured Feed Scorecard Bookmarks Mock Test Poll Notification Knowledge Finder Coaching Institutes Trainee Corner Jobs
close x
  SHARE THIS