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

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

Exempt income & Disallowance of Expences ?

Whether any education institute claiming exemption u s 10 23C can make payment loan salary to its Employees Principle manager who is also member say President of society under which such institution work Plz Say Yes or No along with some case law or by referring some section If not what will be impl

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


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

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

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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 : 3/24/2017 11:11:09 AM

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