Section 40(a)(ib) - Disallowance for non-payment of equalisation levy

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.... for non-payment of Equalisation Levy Chapter VIII of the Finance Act, 2016 provides for deduction of equalization levy for certain specified services. A new section 40(a)(ib) has been inserted with....

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....on of Chapter VIII of the Finance Act, 2016. * Such levy * has not been deducted; or * after deduction, it is not been paid on or before the due date for filing return specified in section 139(1....