Menu
Allowance of amt of tax in belated return if disallowed in tax audit report because of non payment
In A.y. 20-21 Audit report we have disallowed Vat payable u/s 43b because of non payment of tax .Now we are filling belated income tax return. can we pay vat tax outstanding now and exclude the disallowance u/s 43b before filling of IT return to reduce tax liability?
Replies (3)
Quick Summary
Yes pay the VAT return amount before 31.5.21 and file a belated return before that
Filing of belated return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Income-tax Act,1961 for Assessment Year 2020-21, which was required to be filed on or before 31stMarch 2021, may be filed on or before 31stMay 2021.
but under the act you should pay on or before the due date of filing of return of income u/s 139(1).
that is they have extended due dates u/s 139(4),(5) not 139(1).
so if you pay tax now you can take deduction in this for this that is you can claim deduction in coming assessment year.
but under the act you should pay on or before the due date of filing of return of income u/s 139(1).
that is they have extended due dates u/s 139(4),(5) not 139(1).
so if you pay tax now you can take deduction in this for this that is you can claim deduction in coming assessment year.
Ramaraju is right.
you cannot claim vat expense in belated return. you will have to disallow vat expense in belated return as well.
so think before you pay the dues.
you cannot claim vat expense in belated return. you will have to disallow vat expense in belated return as well.
so think before you pay the dues.
Recent Topics :
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
- EWAY BILL TAKE OUT OF OTHER COMPAMY
Related Topics :
CAclubindia
