Disallowance under section 40(a)

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Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2014 Does inadmissible expenses u/s 40(a) include TDS, interest on TDS, advance tax and income tax(previous year's dues paid during the year)?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 July 2014 It is covered u/s 40(a)(ii). Interest is as good as tax vide Assam Forest Products case reported in 180 ITR 478.

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2014 Thanks for your valuable reply sir.

So, Interest on TDS, TDS paid, Advance Tax paid and Income Tax paid (of previous year) all of them will have to be mentioned under section 40(a) of 3CD??

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2014 I meant to ask in clause 17(f) of 3CD

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 July 2014 If debited in the profit and loss account, then disallowance u/s 40(a)(ii) is warranted meaning thereby disclosure is required in clause 17(f) of form 3CD.

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