banner_ad

Deduction under pgbp

Tax queries 507 views 3 replies

Mr A purchases Material X for Rs. 100000 (Credit purchase) on 01.11.2013 from Mr. DEEP.

Case 1  Mr A pays 18000 in cash on 5/12/2013 and 40000 by a/c payee cheque on 5/12/2013 .Rest of the payment is made on on 5/5/2014 through a/c payee dd.

What shall be amount of deduction in computing  profits and gains

 

Case 2  Mr A pays 18000 in A/C payee dd on 5/12/2013 and 40000 by a/c payee cheque on 5/1/2014 .A cash payment of Rs 21000 is made on 5/4/2014 and Rest of the payment is made on on 5/5/2014 through a/c payee dd.

What shall be amount of deduction in computing  profits and gains

Replies (3)
Case 1 : Deduction 100000 Case 2 : Deduction of 79000 and disallowance of 21000
Case 2: 100000 deduction allowed but next year 21000 disallowed
venkateswara rao koppula
i think u have given wrong answer

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details