WebSep 30, 2012 · 37 (1) Any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital expenditure or personal expenses … WebJun 15, 2024 · Section 37 disallows tax deduction when calculated on “income under business head and profession,” whereas tax deduction under section 80G is sanctioned from the “Total income of the assessee“, which includes both the business income as well as the income incurred other than business income. It was held that an assessee could …
Is Interest paid on Late Deposit out TDS allowed as Business ...
Web2 days ago · Facts- AO disallowed Rs. 74.32 Lakhs being expenditure incurred towards Corporate Social Responsibility. AO disallowed the said claim by invoking provisions of Explanation 2 to section 37 (1) of the Act, which states that any expenditure incurred on the activity relating to the Corporate social responsibility referred to in section 135 of the ... WebOct 29, 2024 · Late Fee u/s 234E of the Income Tax Act is nothing but a privilege or special service allowed to a deductor for late filing of the TDS statements. D elay in furnishing of TDS returns/statements has a cascading effect and leads to an additional work burden upon the Department. The Hon’ble High Court held that, to compensate for the additional ... cycle world rockingham nc
DISALLOWANCE OF BUSINESS EXPENDITURE
http://madrasathletics.org/penalty-for-late-payment-of-tds-disallowed-under-which-section WebFeb 18, 2024 · Explanation 1 to section 37 clarifies that if any expense is incurred for any purposes which is an offence or which is prohibited by law then such expenditure shall … WebSection 37 of the Income-tax Act is amended to provide that any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be … cheap web hosting information