1. Income tax paid for earlier years but not disallowed in ITR/computation which is not an allowable expenditure will be disallowed in which section of income tax?
2. Depreciation claimed for asset purchased on last day of the year and put to use on same day will be disallowed in which section of income tax ?
Income Tax paid will be adjusted against provision for taxation (liability) and there is no question of disallowance
Provision for taxation a/c
To Tds ( Asset)
To Bank
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