Section 40(a)(ii)- Income Tax

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....Payment of income tax, surcharge and education cess is not deducible under section 40(a)(ii) and so interest u/s 234A, 234B or 234C which has to be regarded as accretion to tax cannot also be allowed to be deducted. * Foreign income tax cannot be allowed as deduction. * Agricultural income tax Amendment made by the Finance Act, 2022 [w.r.e.f. AY 2005-06] * Explanation 3.- For the removal o....

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....n section 270A(6), and * the Assessing Officer shall recompute the total income of the assessee for such previous year and make necessary amendment; and the provisions of section 154 shall, so far as may be, apply thereto, * the period of four years specified in section 154(7) being reckoned from the end of the previous year commencing on the 1st day of April, 2021. Exceptions of section 155(....