Section 43B is an over-ruling section and anything contained in other provisions of the Income Tax Act should not be applicable to the payments mentioned under this section. Section 43B states that certain payments should be allowed to be claimed...
Section 43B is an over-ruling section and anything contained in other provisions of the Income Tax Act should not be applicable to the payments mentioned under this section. Section 43B states that certain payments should be allowed to be claimed...
Budget 2017 Update: In order to disincentivise cash transactions, it is proposed to amend the provisions of Section 40A of the Income Tax Act to provide the following: To reduce the existing threshold of cash payments to a person from...
Section 40A(2) is an over-riding sections which provide that even if an expenditure or allowance comes within the purview of any other section, there treatment should only be done as laid down in Section 40A(2). Section 40A(2): Disallowance of expense...