40a(ia)allowance on reversal
This query is : Resolved
26 November 2015
Assessee disallowed 100k under 40a (ia) on year end provision and subsequently reversed the entire 100k on the first day of the next financial year. On receipt on bills for 90k pertaining to the last year, he paid the same with tds. Now in the next financial year, whether 100k or 90k is allowed as an allowance in the subsequent year of payment of 90k?? Thanks in advance, experts.
27 November 2015
Only 90K is allowed being actual expenditure.
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27 November 2015
Is there any other provision to allow the 10k under reversal???
27 November 2015
No other provision will allow. The actual expenditure is only 90K the allowability is to that extent only.
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