Tag Archives: Disallowance

Disallowance of income component in case of Non Resident u/s 40(a)(ia) : CBDT

F.No.500/39/2015 (US FT & TR-V) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax & Tax Research –II FT & TR-V Division New Delhi, 26th of October, 2016. To All the Pr. Chief Commissioner of Income Tax / Pr Director General of Income Tax Sir Madam, Sub: Withholding… Read More »

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

Disallowance in respect of non-payment of equalization levy [Section 40(a)(ib)] Key Points about Disallowance for non-payment of equalization levy- Section 40(a)(ib) Chapter VIII of the Finance Act, 2016 provides for deduction of equalization levy for certain specified services. Read Equalisation levy Salient Features The section applies to all assessees, whether corporate or non-corporate and whether resident… Read More »

List of Expenses of which Assessing Officer makes Disallowance

List of Expenses of which Assessing Officer makes Disallowance Following expenses are always on the top of the list of Assessing Officer for making disallowances: – Expenses pertaining to exempt income. Expenses on which TDS is applicable and TDS is not deducted or short deducted Interest expense, especially when interest free loans provided to subsidiaries… Read More »

Disallowance of expenses for non deduction of TDS : Section 40(a)

Section 40(a)(ia) of Income Tax Act 1961 Disallowance of expenses for non deduction of TDS BUY Analysis of Section 40(a)(ia) relating to Disallowance of expenses for non deduction of TDS 30%  disallowance of expenses for non deduction of TDS  under Section 40(a)(ia) This 30% disallowance of expenses for non deduction of TDS  under Section 40(a)(ia) of… Read More »