Tax audit - Section 43B
This query is : Resolved
11 September 2009
For tax audit purpose whether leave encashment is mandatory to be disclosed in Clause 21 for limited companies.
Aditya Maheshwari
(Expert)
11 September 2009
Yes as it is covered u/s 43B (f)
11 September 2009
Yes, as per section 43B of the Income Tax Act, 1961, Leave Encashment shall be allowed to be deducted only if the payment is made within the due date for filing the return of income u/s 139(1)..
Therefore, leave encashment need to be shown in clause 21 of the Form-3CD.
Therefore, leave encashment need to be shown in clause 21 of the Form-3CD.
11 September 2009
But in the case of Bharat Earth Movers vs CIT[2000] 245 ITR 428(SC)43B(f)is struck down. So what is the actual stand now on 43B(f)?
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 REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
