https://www.taxtmi.com/circulars?id=4901 Sales tax deferral schemes permit collection and retention of sales tax for a prescribed period, but tax deduction timing under section 43B allows deduction only when tax is actually paid; a State-law deeming provision treating deferred tax as paid will satisfy section 43B and cause the statutory liability to be treated as discharged for income-tax purposes. en-us Fri, 25 Sep 1987 00:00:00 +0530 Mon, 04 Aug 2008 16:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4901 Sales tax deferral schemes permit collection and retention of sales tax for a prescribed period, but tax deduction timing under section 43B allows deduction only when tax is actually paid; a State-law deeming provision treating deferred tax as paid will satisfy section 43B and cause the statutory liability to be treated as discharged for income-tax purposes. Circulars Income Tax Fri, 25 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4901