Sec 43b

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CA Macson Lopes

CA Macson Lopes (Querist)
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20 November 2013 Whether unpaid property/municiple tax shall be disallowed u/s 43b? (like tds and bonus etc)

SANTOSH SAGAR K

SANTOSH SAGAR K (Expert)
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21 November 2013 Section 43B includes disallowance for any tax, cess, duty or fee payable under any law but not paid before 139(1) due date.

As property/ municipal taxes are as good as a tax and are governed by a statute, they attract section 43B disallowance if not paid.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 November 2013 In addition to Santosh's advice, property tax shall be disallowed under Section 24 is the said property is being offered to tax under "income from house property"

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CA Macson Lopes

CA Macson Lopes (Querist)
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21 November 2013 Thanks.