A P.ltd co. has failed to deposit its sales tax & service tax liability.
Sales - Rs.8 lacs , 2 lacs being accounted as Sales/Service tax.
Whether 2 lacs be disallowed under Sec.43B if not paid within its due date of filing Income Tax Return.
A P.ltd co. has failed to deposit its sales tax & service tax liability.
Sales - Rs.8 lacs , 2 lacs being accounted as Sales/Service tax.
Whether 2 lacs be disallowed under Sec.43B if not paid within its due date of filing Income Tax Return.
Yes it will be disallowed U/s 43B as the same is mandatory to pay before due date of filing return
However, it will be allowed in the year of payment.
What is the logic behind disallowing Liabilities under section 43B.
R P S K & Associates
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