WebMay 17, 2024 · 1. In every business or profession, often expenditure is incurred towards “interest” on delayed payment of TDS. Whether this expense is allowable as business expenditure u/s 36 (1) (iii) of the Income Tax Act, 1961 {hereinafter referred to as the Act} or u/s 37 (1) of the Act or to be disallowed u/s 40 (a) (ii) of the Act or to be allowed ... WebJun 2, 2016 · “ After 1.4.1989, for allowing deduction for the amount of any bad debt or part thereof under section 36 (1) (vii) of the Act, it is not necessary for assessee to establish that the debt, in fact has become irrecoverable; it is enough if bad debt is written off as irrecoverable in the books of accounts of assessee. ” 4.
Income Tax Department
WebDeductions under Sections 30 to 37 Amount deductible, while computing, Profits and Gains of Business or Profession are:- Expenses deductible on actual payment basis The following expenses shall be allowed as deduction if such expenditure are actually paid on or before the due date of filing of return of income:- WebAug 18, 2014 · As per section 36(1)(viii) of Income Tax Act 1961 in respect of any special reserve created and maintained by a specified entity, an amount not exceeding twenty … jay j\u0027s
Whether interest paid u/s 201(1A) on late payment of TDS is an ...
WebApr 11, 2024 · An NRI can make an application in Form 13 for deduction of income tax at lower rates or nil deduction on income received in India. If the AO is satisfied that the total income of the payee justifies the deduction of income tax at lower rates or no deduction of income tax, the AO shall give the NRI lower/nil TDS certificate as appropriate for this … WebINSTRUCTION NO. 1275/CBDT Dated : August 13, 1979 Section(s) Referred: 36(1)(viii) Statute: Income - Tax Act, 1961 Under section 36(1)(viii) of the Income-tax Act, 1961, … WebOther deductions. 36. (1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to … kutu kutu pense değil mermi