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43B disallowance

Rijo John (audit manager) (445 Points)

28 October 2019

What is 43B disallowance

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RAJA P M ("Do the Right Thing...!!!") (127153 Points)
Replied 28 October 2019

Please go to refer the details in the following link...

https://www.indiafilings.com/learn/section-43b-of-income-tax-act/

Kapadia Pravin (17249 Points)
Replied 29 October 2019

Section 43B of the Income Tax Act states that certain statutory expenses can only be claimed in the year of payment.

Section 43B provisions disallow the sum not paid in the financial year or before the due date of filing tax returns under the head “Profits and Gains of business or profession.