Disallowance for Non-Payment of Equalisation Levy - (Old) Section 40(a)(ib) (upto 31.03.2026)

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Full Text of the Document

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....n levy for certain specified services. A new section 40(a)(ib) has been inserted with effect from 1-6-2016 to provide that the consideration paid or payable shall not be allowed as a deduction to an assessee, if the conditions given below are fulfilled: • There is consideration paid or payable by an assessee to a non-resident. • The consideration is paid or payable for....