Tag Archives: Section 40(a)(ib)

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 »