Answer Posted / r.sivaraman

Under Sec 43B of Indian Income Tax Act, 1965
express "Certain deductions to be only on actual payment"

(a) any sum payable by the assessee by way of tax11a, duty,
cess or fee, by whatever name called, under any law for the
time being in force, or

(b) any sum payable by the assessee as an employer by way
of contribution to any provident fund or superannuation
fund or gratuity fund or any other fund for the welfare of
employees, or

(c) any sum referred to in clause (ii) of sub-section (1)
of section 36,or

(d) any sum payable by the assessee as interest on any loan
or borrowing from any public financial institution or a
State financial corporation or a State industrial
investment corporation, in accordance with the terms and
conditions of the agreement governing such loan or borrowing

(e) any sum payable by the assessee as interest on any
[loan or advances] from a scheduled bank in accordance with
the terms and conditions of the agreement governing such
loan or advances or

(f) any sum payable by the assessee as an employer in lieu
of any leave at the credit of his employee,

shall be allowed (irrespective of the previous year in
which the liability to pay such sum was incurred by the
assessee according to the method of accounting regularly
employed by him) only in computing the income referred to
in section 28 of that previous year in which such sum is
actually paid by him

I have mentioned the buyer as in Kolkata and the consignee's in Jharkhand now the consignee has issued the C Form whether the C Forms is acceptable or not kindly help me

1806

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Rules for filling Income Tax return for an Individual ?

2007

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If we want to do online PT registration it starts from 2007-08. But our firm started 2005-06. What is the procedure? Manually we have to submit the documents. Can any one let me know.

1892

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What is the difference between fund flow vs. Cash flow?

1076

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Dear Sir, We are running a security agency. Please suggest us Notification No.:15/2012 service Tax dated 17.03.12 which is effected from 01.07.12 Please suggest how to raise bill on our clients.

4058

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what is procedure to get c form? what is procees to get vat /tin no

2486

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Dear Sir, I am working in account department. I want to know, Why service tax rate is change in every type of service. For Example - Rent Bill Service Tax Rate - 10.30% Taxi Bill - Service Tax Rate - 4.12% Why it change

2021

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how & on which amt tax should be calculate on pvt ltd company or ltd company

2314

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I want to know the TDS ammount which deducted by company.

5321

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A Service provided has provided bill amounting rs. 100000 dt. 30/04/2013 & i have paid amount with 30000 Rs. as on 24/5/2013, & 20000 paid on 7/6/2013 & rest of the amount has been paid as on 15/6/2013 then on which amount TDS has been deducted. may it deducted on Bill amount or payment amount? If bill amount then at which date TDS entry should be done ? & if on Payment date then which date. and if i want to compute interest for late payment of TDS then Which date should be consider for interest payment computation. Do the needful for the same.

1965

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I am working at Himachal Pradesh, let me know cant i adjust entry tax in vat? if no then why or yes, please exlain.

2143

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Define previous year.

1044

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We have paid service tax of March Bills on 30 March. we forgot to include some bills for service tax, now we can deposit the tax in april/may and how we enter the tax..in tally....

1858

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What is the general format for a consolidated file extension? It is showing invalid file format? So how to solve the error? How to correct the file format? Help me how to know the general consolidated file format like is it tan no_finan.Yr-quarter-type.Tds is this format correct one? Last time i have found the extension as .Csi is it correct?

1790

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For what Purpose we should pay Profession Tax? After paying Profession Tax we can get benefit for personnel return filling? If Yes? than where?

5457

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