Tax audit for section 43b reporting
This query is : Resolved
10 June 2013
Whether Interest accured to LIC of India and Paid after 31.03.2013 shoule be reported u/s 43B in tax audit report.
10 June 2013
No need to report , because LIC is not a 'public financial institution' for the purpose of section 43B.
10 June 2013
Sir it is a public financial co owned by govt of india.
can u reconfirm the same.
can u reconfirm the same.
10 June 2013
My observation stands confirmed. For details please see explanation 4A of section 43B read along with section 4A of the Companies Act,1956
Message likes :
1 times
11 June 2013
Sir
LIC is a public financial institution as per section 4A of the companies act 1956
LIC is a public financial institution as per section 4A of the companies act 1956
11 June 2013
Yes LIC is a public financial institution as per section 4A(1) (iv) of the Companies Act,1956. I stand corrected.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst on travel by air for business purposes
- CLOSING STOCK QUERY
- F&O reporting in ITR
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- 44AD, 44ADA business details
- Short Term Gain Reporting ITR
- DUE DATE FOR ITR FILING
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- GST ISD Query on various AMCs
- Gst reverse charge mechanism to be claimed in the month of payment
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
