Yes it is allowable as expenditure As per the income tax Act U/s 4
2 Replies
valji
(Accounts manager-MBA)
(2150 Points)
Replied 26 August 2011
under sec 43b expenses are allowed on payment basis ,if you paid before due date of filling return
1) sales tax ,service tax ,bonus , LTA
but what is your query
TRILOCHAN
(SENIOR ACCOUNTANT)
(698 Points)
Replied 26 August 2011
U/s 43B, deductions are allowed on actual payment basis and payment should be made before ROI
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