banner_ad

Expenses allowed on Payment basis

251 views 2 replies
As per the Income tax provision certain Expenses are allowed only on the payment basis.... Statutory deductions are also one of them..
My query is if the payment of March Return is deducted and paid in subsequent year i.e from April till the due date of Tax audit would it be allowed as deduction in the same year or subsequent year?
Provision says deductions is allowed if it is deducted and paid.
Replies (2)
Yes the said expense is allowed as deduction in the same year if payments are made up to the return filling
Under section 43B Paid is important factor. the amount need to be paid to claim deduction if they are not paid then deduction can be claimed in future year in which payment is done


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details