Regarding Sec 43B:
I HAVE THE FOLLOWING EXCISE DUTY PAYABLE FOR THE FOLLOWING ASSESMENT YEARS:
2006-07: Rs. 15,00,000; 2007-08: Rs. 14,00,000; 2008-09: Rs. 17,00,000; 2009-10: Rs. 18,00,000; 2010-11: Rs. 20,00.000.
IF THE ABOVE IS PAID BY THE RETURN FILING DATE OF THE ASSESSMENT YEAR 2010-11(say, 20-08-2010), CAN ALL THE EXPENSES i.e. Rs. 84,00,000 is allowed in A.Y. 2010-11? If not, then in which assessment year?
yes all expenses are allowed in the year of actual payment [Sec. 43B]
In my opinion Arun has misunderstood the date of payments
The entire amount of ED payable is allowed in the AY 2011-12 ie PY 2010-11,Since 43B is allowing the expenese on payment basis only for those AY in the expense is incurred and not for the future years
Regrds
sandeep
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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SSGS and Associates
Chennai
CA Inter
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CAclubindia
