TaxTMI 
TaxTMI 
TaxTMI 
DISALLOWANCE U/S 40a(ia)
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....ISALLOWANCE U/S 40a(ia)<br> Query (Issue) Started By: - PRAVIN SINGH Dated:- 18-11-2011 Last Reply Date:- 23-11-2011 Income Tax<br>Got 1 Reply<br>Income Tax<br>Section 40 Start from " Notwithstanding ....
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....anything to the contrary in section 30 to 38, that means the expenses which are convred under the purview of section 30 to 38 would be disallowed u/s 40a(ia). that means if incurred expenditure ....
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....is part of trading account or manufacturing account liable to deduct tax and tax has not been deducted on that amount, would cover the ambit of section 40a(ia) or not . if yes why? and if not Wh....
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....y?. Further i would like to ask that 28(i) state that the profit and gains of any business or profession , what is that meaning, it means gross profit? kindly reply as early as possibe, if relevant ....
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....judgement is there, it would be most appropriate. thanks. Reply By MOHAN S: The Reply: Mr. Praveen, The terminology "Not withstanding anything to the contrary......." means irrespective of the spe....
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....cific provisions contained in sections.. to ... the disallowance u/s 40 (a) (ia) will apply. Specific disallowance of any expense is given in Section 40 (a ) itself. It does not mean ALL expenses spec....
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....ified in Sec 30 to 38 will get disallowed if Tax is not deducted. You must interpret the act in an harmonius manner.<br> Discussion Forum - Knowledge Sharing ....