This discussion addresses a query regarding Clause 23 of Form 3CD, specifically concerning particulars of payments made to persons specified under Section 40A(2)(b) of the Income Tax Act. The core question is whether the amounts reported should be inclusive or exclusive of tax. The consensus and advice provided is that the amounts should be taken inclusive of tax.
06 June 2020
In Clause 23 of 3cd, "Particulars of payments made to persons specified u/s 40A(2)(b), whether the amount has to be taken inclusive tax or exclusive tax. Please suggest.