Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Audit timing requirement for development account deduction now mandates audit and report filing by the specified deadline or deduction is disallowed. Deduction under section 33AB for deposits to tea, coffee and rubber development accounts is conditional on the business accounts being audited by an ... Summary
Audit timing requirement for development account deduction now mandates audit and report filing by the specified deadline or deduction is disallowed.
Deduction under section 33AB for deposits to tea, coffee and rubber development accounts is conditional on the business accounts being audited by an accountant (as defined) and the audit report being furnished by the specified filing deadline referred to in section 44AB; failure to meet the audit and report furnishing requirement by that specified date renders the deduction inadmissible.
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