Section 43B: Deduct Statutory Liabilities Only in Payment Year, Regardless of Accounting Method Used or Liability Incurred Year.

Section 43B: Deduct Statutory Liabilities Only in Payment Year, Regardless of Accounting Method Used or Liability Incurred Year. https://www.taxtmi.com/highlights?id=29562 The provision of Section 43B overrides the method of accounting consistently followed and provides for the deduction of statutory liabilities in the year of payment irrespective of the year in which the liability is incurred. - AT en-us Thu, 02 Jun 2016 15:36:18 +0530 Thu, 02 Jun 2016 15:36:18 +0530 TaxTMI RSS Generator Section 43B: Deduct Statutory Liabilities Only in Payment Year, Regardless of Accounting Method Used or Liability Incurred Year. https://www.taxtmi.com/highlights?id=29562 The provision of Section 43B overrides the method of accounting consistently followed and provides for the deduction of statutory liabilities in the year of payment irrespective of the year in which the liability is incurred. - AT Highlights Income Tax Thu, 02 Jun 2016 15:36:18 +0530 https://www.taxtmi.com/highlights?id=29562