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Payments to specified persons u/s 40a 2 b

Spletpayments made by the assessee during the previous year to the persons specified u/s 40A(2)(b). These persons are generally termed as ‘Related Parties’. It may be noted that relationships/parties covered under AS-18 are not identical. Section 40(A)(2) provides that expenditure for which payment has been or is to be made to certain specified ... Splet11. sep. 2012 · Section 40A provides for certain expenses not deductible under certain circumstances. One such circumstance is provided under Section 40A(4). Under the said …

FORM 3CD – Explanation and Applicability - ClearTax

SpletDisallowance u/s 40A(2)(b) - excessive or unreasonable payments made to specified persons - AO has not done any exercise to determine as to whether the amount paid by … SpletThe payments were not made individually to the persons of HPCL & GAIL ... Assessing Officer and confirmed by the CIT(A) u/s 40a(ia) of the Act. 19. Ground Nos. 7 to 11 raised by the assessee are with ... specified in Sec.35D(2) incurred before commencement of www.taxguru.in. ITA NO. 588 & 589/Hyd/12 diy tornado shelter door https://makcorals.com

Section 40A Certain Expense Disallowed - Deductions - teachoo

http://lunawat.com/Uploaded_Files/Attachments/F_11059.pdf Splet17. jun. 2024 · Section 40 (A) (2) provides that expenditure for which payment has been or is to be made to certain specified persons listed in the section 40 (A) (2) (b) shall not be … Splet39. Amount inadmissible u/s 23 of MSME Act, 2006 [clause 22] 156 40. Payments to specified persons under section 40A(2)(b) [clause 23] 158 41. Deemed profits under section 32AC/33AB/33ABA/33AC [clause 24] 160 42. Profits chargeable under section 41 [clause 25] 161 43. Payments under section 43B [clause 26] 164 44. diy toss across game

section+40a(2)b Indian Case Law Law CaseMine

Category:S. 40A(2)(b) Interest on unsecured loan from relatives - TaxGuru

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Payments to specified persons u/s 40a 2 b

Tax Audit Series v. 3.0 Ch. 11 Clauses 22-23 - Lunawat

Splet13. dec. 2024 · For example if an assessee purchases goods from specified person for Rs.25,000 and debits the said amount in the Profit and Loss Account. But the fair market … Splet23. mar. 2024 · Particulars of payments made to persons specified under section 40A(2)(b) This section basically disallows expenditure incurred by way of payment to specified persons (relatives) if the assessing officer finds them to be excessive in nature. 24: Amounts deemed to be profits and gains under section 32AC or 32AD or 33AB or 33ABA …

Payments to specified persons u/s 40a 2 b

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Spletiii. persons covered by specified domestic transactions 4 iv. meaning of specified domestic transactions 4 v. expenditure made to persons mentioned section 40 a (2) (b) of the act 1. meaning of substantial interest 2. persons covered under section 40a (2)(b) of the income tax act, 1961 5 vi. any transaction of section 80-ia of the act 14

Splet12. avg. 2024 · Disallowance out of salary to relatives u/s.40A(2)(b) ... as to what as per him was the fair market value of the service which were being rendered by the aforementioned related persons, considering which the payments made to them by the ... out of payment of salary made to persons specified under section 40A(2)(b) of the Act which is highly ... Splet19. dec. 2024 · Income Tax Tax audit- Clause 23 u/s 40A (2) b vivek anandan (21 Points) 17 December 2024 Payments made to specified persons must be disclosed here. now my …

Splet10. apr. 2024 · When a person carrying on a profession is required to get his accounts audited u/s 44AB(b) & u/s 44AB(d) Presumptive tax regime available under the Act to persons carrying on specified professions; Turnover or gross receipts; ... Payments to Persons Specified under section 40a(2)(b) SpletUnder Section 40A2 of Income Tax Act, such a deduction is disallowed if the transaction fulfils 3 objectives – When the payment is made to cover expenditures of any nature. When such payment has already been made or is in the pipeline to the ‘specified persons’ for the latter’s expenses.

Spletprovisions of section 40A(2)(b) of the I.T. Act, 1961, the details of the same are to be furnished against clause 6(a) irrespective of whether payment has been made in respect …

Splet07. jan. 2024 · The tax auditor is only required to give particulars of payments to persons specified under section 40A(2)(b) under this clause. ... As the clause requires an auditor to report all the payments made to the specified persons, the payments made for capital purchases should also be considered for reporting under this clause. ... Where the … diy to sell and make moneySplet13. nov. 2008 · Particulars of payment made or to be made to persons specified under section 40A (2) (b) in the following form: Name of recipient/ or beneficiary in case of … diy tortilla shellsSpletDisallowance u/s 40A(2)(b) - excessive or unreasonable payments made to specified persons - AO has not done any exercise to determine as to whether the amount paid by the Assessee to the aforesaid two ladies were excessive or unreasonable by comparing the prevalent market rates. diy torsion axlehttp://lunawat.com/Uploaded_Files/Attachments/F_4102.pdf crash bash polar panicSpletSection 40A (2): Disallowance of Payments to Relatives in 2024. Section 40A (2) is an over-riding sections which provide that even if an expenditure or allowance comes within the … diy total gym machineSplet20. dec. 2013 · 2. Ground No.1 of the assessee’ s appeal reads as under: “1. Ld. CIT (A) erred in law and on facts to uphold the dis allowance of interest paid to persons … diy torsion springSpletScope of s. 40A(2)(b) •Domestic TP applies to expenditure for which payment is made or is to be made to a person referred to in s. 40A(2)(b) Coverage is wide; conceptually different from AS18- •Applies to transactions on or after 1 April 2012 •Applies to payments which results in “expenditure” crash bash ps1 intro