29 July 2024
I need some guidance on a tax matter. We made a provision of Rs 23 crores in March 2021 for differentiated salary payable to employees. We're now planning to reverse this provision. Could someone please explain the income tax liability associated with this reversal? Specifically, I'm interested in the treatment under the Income Tax Act and the applicability of interest under sections 234A, 234B, and 234C.
CAclubindia
