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tax audit

Statutory Audit 831 views 2 replies

 



PYMT IS MADE BY ORG TOWARDS ADVANCE & IF SUCH PYMT EXCEED 20000/-

THEN ALSO SEC 40A(3) WIL NOT BE ATTRACTED BECAUSE AS PER THIS SEC ALSO ONLY THOSE EXP CAN BE DISALLOWABLE WHICH CAN BE OTHERWISE ALLOWABLE UNDER THE HEAD PGBP.......
B/C SEC START AS WHERE THE ASSESSEE INCURRS ANY EXPENDITYRE..............

THEREFORE THIS SEC WIL NOT APPLY IN CASE OF THOSE ITEMS WHICH R NOT ALLOWABLE U/H PGBP LIKE ADVANCE PYMT FOR FLATS.

ONE MORE PT=THAT IN CASE OF LOAN/DEPOSIT TAKEN/ACCEPTED & REPYMTS=269SS/T APPLY BUT IN CASES OTHER THAN THIS IF CASH IS RECD FOR OTHER REASONS WHICH SECTION IS ATTRACTED EG CASH INTRODUCED BY THE PROP IN EXCESS OF 20000

B/C FOR PYMTS[P & L A/C] THERE IS 40A(3) FOR RECEIPTS OTHER THAN 269SS & T WHETHER THERE R ANY OTHER SEC

Replies (2)

 

Good analysis jee....!!!!!!!!!!!

 

 

100 Notes of Income Tax at one Place

 

Download Books for Income Tax

 

Frequency Norms of Audit for Service Tax Assessees

 

Originally posted by : Suresh_Smiter

 

Good analysis jee....!!!!!!!!!!!

 

 

100 Notes of Income Tax at one Place

 

Download Books for Income Tax

 

Frequency Norms of Audit for Service Tax Assessees

 





 

wat u say on this analysis ......ru agree with it...................


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