In the normal income tax calculation, expenses are disallowed u/s 40(a)(ia) if TDS have not been deducted from such expesnes.
While calculating profit U/s 115JB (MAT), shall such expenses be disallowed also????
In the normal income tax calculation, expenses are disallowed u/s 40(a)(ia) if TDS have not been deducted from such expesnes.
While calculating profit U/s 115JB (MAT), shall such expenses be disallowed also????
No, they will not be disallowed for computation of book profits. Only items given under explanation to section 115jb are added back or reduced.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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