disallowance undersection 40a(3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 November 2014
during he FY 2010-11 (tax audit limit 60 lakhs)income filed under section 44AD showing turnover around 38 lakhs, later file called for assessment, during assessment 20 lakhs added to turnover, for the difference amount i.e 20 lakhs officer charged 8% as income and tax was paid, later again file opened under section 154/155, and disallowed certain payments made through bank , but not crossed one. under section 40A(3).
My qwery: is it possible to disallow under section 40A(3) certain payments made by bearer cheques, for which i have not claimed.
as far i am concerened,i know if it was within the tax limit, then any expenditure cannot be added back to income, but after adding 20 lakhs to turnover it has exceded the tax audit limit,
kindly solve my qwery
during he FY 2010-11 (tax audit limit 60 lakhs)income filed under section 44AD showing turnover around 38 lakhs, later file called for assessment, during assessment 20 lakhs added to turnover, for the difference amount i.e 20 lakhs officer charged 8% as income and tax was paid, later again file opened under section 154/155, and disallowed certain payments made through bank , but not crossed one. under section 40A(3).
My qwery: is it possible to disallow under section 40A(3) certain payments made by bearer cheques, for which i have not claimed.
as far i am concerened,i know if it was within the tax limit, then any expenditure cannot be added back to income, but after adding 20 lakhs to turnover it has exceded the tax audit limit,
kindly solve my qwery
25 November 2014
if u havent claimed such exp then its not disallowable.
25 November 2014
income u/s 44AD not addition made, when you not claimed the exp.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- TAN for Partnership
- NON- SUBMISSION OF LLP FORM 3
- Long Term Service award taxability in hands of company
- What is provisional receipt number for generation of form 16A
- Last year TDS Claim
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- LTCG for Assmt year 26-27
- Form 27Q Correction statement taking too long to update on IT Portal
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
