43b
This query is : Resolved
priya jain
(Querist)
27 June 2013
Section 43B (a) says Any sum payable by the assessee by way of tax, duty, cess or fee, by whatever name called, under any law for the time being in force,allowable as deduction on payment basis.
Here the word whatever name called covers lease rent payment to State Govt or not?
Here the word whatever name called covers lease rent payment to State Govt or not?
CA Navin Jain
(Expert)
27 June 2013
not Covered.
Lease rent will be allowed on accrual basis.
Lease rent will be allowed on accrual basis.
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