Disallowance u/s 43b of income tax act

Tax queries 627 views 3 replies

Is it mandatory to quote the date of payment of VAT in clause  26 B of the form 3 CD, even if the same has not been claimed as an expense in computing the profit?

In short, whether the disallowance u/s 43B is attracted even in case of statutory dues, which are not claimed as an expense/deduction in computing the profits?

Replies (3)
Hiiii, Please refer section 145A of the Income tax Act. As per this section income includes duties taxes and cess. So even if Vat is not passed by profit & loss account though section 43B is applicable and it is allowed on payment basis else it will be added as income in computation of income.

Ok.

But section 43B begins with "Notwithstanding anything contained in any other provision of this Act".

in the 3CD utility clause 26 B has only space for nature of item and amount. date is not required to be given


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