Section 40 a 9 income tax

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WebUnder section 40(a)(ia) of the Act, in case of payments made to resident, the deductor is allowed to claim deduction for payments as expenditure in the previous year of payment, … Web13 Apr 2024 · With reference to above and pursuant to Regulation 40 (9) of SEBI (LODR) Regulations 2015 please find enclosed herewith the certificate received from M/s. P. P. Shah & Co. Practicing Company Secretaries in respect of transfer or transmission or transposition of securities for the financial year ended 31st March 2024. ... Income Tax Know-how ...

Disallowance of expenditure under Section 40(a)(i) of Income-tax …

Web28 Sep 2016 · section 40A (9) of the Income Tax Act. Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read … WebCurrently, Section 40(a)(ia) of the Act, dealing with the disallowance of payment made to a resident on account of non-deduction of tax at source, restricts the disallowance to the … distance to maynooth

Old or New Tax Regime? 10 tips to choose which tax …

Web11 Apr 2024 · Pursuant to Regulation 40(10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended (hereinafter the Regulations) please find enclosed herewith a Compliance Certificate [referred to in Regulation 40(9) of the Regulations] dated April 11 2024 issued by Ms. Riya Luthra Company Secretary Partner … Web11 Apr 2024 · List of Deductions and Exemptions under Old Tax Regime. Investments under Section 80C up to Rs 1.5 lakh (Public Provident Fund, Equity Linked Savings Scheme … Web9 Mar 2024 · Section 40A (9) of the Income Tax Act is an important provision that deals with payments made in cash by business entities. The section was introduced with the aim of … distance to mercury from earth

Amounts not deductible U/s. 40(a) of income Tax Act, …

Section 40 a 9 income tax

No sec. 40A(9) disallowance on sum contributed to trusts created …

WebSection 40A of Income Tax Act. ( Expenses or Payments not Deductible) Expenses or Payments Not Deductible where such Payments are made to Relatives [Section 40A (2)]: … Web30 Mar 2024 · As per section 40A(3A) when an expense payable is allowed in a year and in any subsequent year the assessee makes payment of such expenditure in cash or through …

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WebSection 40(a)(ii) only deals with the amount in relation to the rate of tax levied on profits and gains from business or profession. Therefore, GST late fee will not be disallowed under sec 40(a)(ii). Expenses which are in the nature of ‘rate’ or ‘tax’ are specifically disallowed under section 40(a)(ii) while computing the business income. WebSection 40A (9) – Business disallowance – Contribution to a fund created for the healthcare of the retired employees – The provision was not meant to hit genuine expenditure by an employer for the welfare and benefit of the employees AJAY R. SINGH Advocate 15. The Pr. CIT-2 vs. M/s State Bank of India [Income tax Appeal No. 718 of 2024;

WebSection 40 of Income Tax Act "Amounts not deductible". 40. Notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted in computing … Web29 Nov 2024 · Section 40(a)(ii) of the Income Tax Act , 1961 bars the deduction of “any rates or taxes” payable by an assessee in arriving at the profits liable to tax. Evolution of the …

Web25 Sep 2024 · 148 and deemed total income determined under Section 115JB. 9,00,000. Maximum amount on income not chargeable to tax — 9,00,000. 7. Deemed total income under Section 115JB reassessed under Section 147. 15,00,000. Deemed total income assessed as per Section 115JB in the assessment or reassessment. 10,00,000. 5,00,000. … Web11 Apr 2024 · List of Deductions and Exemptions under Old Tax Regime. Investments under Section 80C up to Rs 1.5 lakh (Public Provident Fund, Equity Linked Savings Scheme (ELSS), Employee Provident Fund, Life ...

WebThe assessing officer may not allow you to claim expenses for payments made to specified persons ( as per Section 40A(2) of the Income Tax Act ) if : ... in X ltd.Now any amount paid/payable by Mr Ashok to X ltd for will be subject to the category of specified person under Section 40 A(2)(b) distance to merritt island floridaWeb30 Mar 2024 · Since it is not possible to draw a comprehensive list of such expenditures or to prove their genuineness, a step was taken to introduce Section 40A(3) under the income tax act. As per section 40A(3), if the business expenditures are made in cash and the amount exceeds Rs 10,000 then it will be disallowed for income tax purposes. cpu governmentWebTaxable income Tax rate; Personal Allowance: Up to £12,570: 0%: Basic rate: £12,571 to £50,270: 20%: Higher rate: £50,271 to £125,140: 40%: Additional rate: over £125,140: 45% cpu governor bluetooth