Deduction u/s 43B of the I. T. Act is allowable for payment of VAT payable before due date u/s139

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..... Deduction u/s 43B of the I. T. Act is allowable for payment of VAT payable before due date u/s139
Query (Issue) Started By: - Kishor Vishnu Dated:- 16-5-2010 Last Reply Date:- 21-5-2010 Income Tax .....

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Income Tax
One of my client is shown sales and purchase in the profit & loss account net of the VAT and VAT is shown in the balance sheet as liability. If he will pay the VAT pay .....

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..... able as on 31st March 2010 before due date of filing of his income tax return then same shall be disallowed u/s. 43B or not ? Reply By Surender Gupta: The Reply: If you are showing sales and purchase .....

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..... net of VAT in the profit and loss account the same is contrary to provisions of section 145A. On the other side, if you deposit the VAT befor due date of filing of return, it will be allowed as eligi .....

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..... ble deduction u/s 43B.
Discussion Forum - Knowledge Sharing .....

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