Section 43b
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2011
Breif Facts of the Case are :
1. Client collect from purchasers and pays a state Govt tax called Forest Development Tax (FDT)
2 the Above FDT is not routed through Profit and loss account. Neither shown as Receipts nor as Expenses
3 As on year end there is some amount of FDT payable to State Government.
4. Clent follows Mercantile System of accounting.
The Query is whether the FDT payable as on year end will be added back to Income if the same is not paid before filing of ROI ????
1. Client collect from purchasers and pays a state Govt tax called Forest Development Tax (FDT)
2 the Above FDT is not routed through Profit and loss account. Neither shown as Receipts nor as Expenses
3 As on year end there is some amount of FDT payable to State Government.
4. Clent follows Mercantile System of accounting.
The Query is whether the FDT payable as on year end will be added back to Income if the same is not paid before filing of ROI ????
14 September 2011
Can't be disallowed under section 43B since not routed through profit and loss account.
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