Payment u/s 43B of IT.Act
This query is : Resolved
19 May 2010
One of my client is shown sales and purchase in the profit & loss account net of the VAT and VAT is shown in the balance sheet as liability. If he will pay the VAT payable as on 31st March 2010 before due date of filing of his income tax return then same shall be disallowed u/s. 43B or not ?
19 May 2010
No it will not be added to the taxable income of the assesee.
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