Saturday, May 23, 2020

Disallowance under section 40A(3) – Whether Automatic?

Introduction Section 40A of the Income Tax Act, 1961 was inserted by the Finance Act, 1968 w.e.f. 01st April 1968 provides for disallowance of expenses or payments not deductible in certain circumstances while computing the income under the head Profit & Gains of Business or Profession. Another facet and part of the main provision in […]

from Taxscan | Simplifying Tax Laws https://ift.tt/3edDq1n

No comments:

Post a Comment