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Sec 40a tax audit

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(Querist)
04 August 2010 Can u pls help

Wat is inadmissble

Actual Payment of tax for the F.Y.

or

Provision for tax for the F.Y.
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CA Punit

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CA Punit (Expert)
04 August 2010 Provision for tax is estimated at an amount which the assessee is liable to pay on its annual income.
Actual tax paid may be more/ less than provision.

The amount debited to p&l, being the provision becomes inadmissible.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
04 August 2010 Whatever amount debited to the Profit & loss a/c is disallowable. It does not depend upon the amount of actual payment of tax.
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Rahul Gupta

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Rahul Gupta (Expert)
04 August 2010 Agreed with Mr Aditya. Tax amount is not an admissible amount whether actual or provision.

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