Applicability of 43B(h)

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This discussion clarifies the applicability of Section 43B(h) for companies where a tax audit is not required due to turnover being below the threshold. The consensus is that Section 43B(h) is indeed applicable, irrespective of whether a tax audit is mandated for the business. The requirement for tax audit does not determine the application of this specific section.

Amit

Amit (Querist)
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29 March 2024 Whether 43B(h) Is Applicable on those Companies on Which Tax Audit is Not Applicable. i.e. Turnover Is Less Than Tax Audit limit.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 March 2024 43B(h) not applicable when tax audit is not applicable.

CA Roomi Gupta

CA Roomi Gupta (Expert)
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29 March 2024 Yes, the provision of Section 43B(h) would be applicable even though the assessee is not liable of tax audit. It is not depended on whether Tax Audit is applicable or not.

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