07 April 2015
As per sec.40a Income tax wealth tax n fringe tax is not allowed As per sec43B Any tax duty cess actually paid is allowed Which provision is overriding
07 April 2015
Both the sections starts with non obstante clause and both has superseding power . But in sec 40 it is clearly mentioned FB tax, Wealth tax and any tax on profit. So any other taxes not covered under sec 40 under any law for the time being in force are covered in sec 43B. ( eg. VAT, Service tax, Excise duty, etc ..)
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