40 a (2b)
This query is : Resolved
30 September 2015
Is purchase of Fixed assets required to be disclosed u/s 40A (2b) in form 3 CD ?
01 October 2015
No need, because it is a capital expenditure, whereas the referred section is to disallow unreasonable payments while computing business income.
02 October 2015
Thanks for the revert. The said section does not refer to specifically revenue expenditure. It just has mention of expenditure. So there is no exclusion of capex as per the section. Your advice requested.
03 October 2015
Sachin Ji
My observation is based on the opinion given in ICAI publication viz., 'Issues on tax audit'.
My observation is based on the opinion given in ICAI publication viz., 'Issues on tax audit'.
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