Sec 40a tax audit

This query is : Resolved

prateek (Querist)
Follow

04 August 2010 Can u pls help

Wat is inadmissble

Actual Payment of tax for the F.Y.

or

Provision for tax for the F.Y.

CA Punit

CA Punit (Expert)
Follow

04 August 2010 Provision for tax is estimated at an amount which the assessee is liable to pay on its annual income.
Actual tax paid may be more/ less than provision.

The amount debited to p&l, being the provision becomes inadmissible.

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

04 August 2010 Whatever amount debited to the Profit & loss a/c is disallowable. It does not depend upon the amount of actual payment of tax.

Message likes : 1 times

Rahul Gupta

Rahul Gupta (Expert)
Follow

04 August 2010 Agreed with Mr Aditya. Tax amount is not an admissible amount whether actual or provision.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

S J MITRA

prakash takane

Chnmaya parhi

CA Aakarsh Jain

tsrandcompany@gmail.com

Subscribe Now

Sec 40a tax audit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA