Expenses allowed on Payment basis

As per the Income tax provision certain Expenses are allowed only on the payment basis.... Statutory deductions are also one of them..
My query is if the payment of March Return is deducted and paid in subsequent year i.e from April till the due date of Tax audit would it be allowed as deduction in the same year or subsequent year?
Provision says deductions is allowed if it is deducted and paid.
Replies (2)
Quick Summary
This discussion clarifies when expenses are allowed as tax deductions based on the payment basis, particularly under Section 43B of income tax provisions. It explains that statutory deductions, if paid by the tax audit due date, are allowed in the same financial year. If an expense isn't paid within the financial year, the deduction can only be claimed in the subsequent year when the payment is actually made.

Yes the said expense is allowed as deduction in the same year if payments are made up to the return filling
Under section 43B Paid is important factor. the amount need to be paid to claim deduction if they are not paid then deduction can be claimed in future year in which payment is done

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details