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Sec 43b statutory payment

joyjit majumdar (Assistant Finance Manager) (39 Points)

28 September 2014

allowance of expenses mention in sec 43B before due date of income tax filling u/s 139 now due date extended the person under tax audit to nov instead of september then Sec 43B payment also modified accordingly? kind explain.

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5 Replies

Jaikishan (CA) (168 Points)
Replied 28 September 2014

CBDT has vide its order dated 20.08.2014 extended the due date for e-filing of Tax Audit Report to 30.11.2014 for A.Y. 2014-15. The order has nowhere mentioned about the due date for e-filing of Income tax Return (ITR). It seems due date for filing of ITR are been kept same.

To claim deduction of Statutory expenses falling under section 43B, Assessee have to pay these Statutory on or before the filing of ITR or Due Date of return filing (Due Date of ROI is 30.09.2014) whichever is earlier.

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Jaikishan (CA) (168 Points)
Replied 28 September 2014

joyjit majumdar (Assistant Finance Manager) (39 Points)
Replied 28 September 2014

recently cbdt extended the due date of filling return u/s 139 (under tax audit) also 30/11 follow the verdict of gujrat hc case now sec 43B should also extended to 30/11

Jaikishan (CA) (168 Points)
Replied 28 September 2014

As per latest notification 2 to 3 days, it is clarified that only there is no extension under Section 234A of Income tax act. However the notification is silent on Section 43B. Hence it is deemed that due date is also increased to 30th November 2014 for section 43B (Only for cases which are eligible under section 44AB). Still you can have second opinion for the same, If i get any latest info will let you know abt the same.

Companies which are not eligible for tax audit report the due date remains same i.e. 30th September 2014.