Section 43B disallowance applies if which is not paid by return due da…

Question

Section 43B disallowance applies if which is not paid by return due date?

Accepted Answer

D. Tax, duty, cess to government

1. Section 43B lists items deductible on actual payment: tax/duty/cess, employee PF/superannuation/gratuity, interest on bank loans, leave encashment.
2. If paid by return due date under Section 139(1), deduction allowed in relevant PY.
3. Otherwise, deduction allowed in year of actual payment.
_Source: ICAI BoS CA Final Paper 7, Ch 3 "Profits and Gains of Business or Profession"_

Answer

Cost of goods sold

Answer

All expenses incurred

Answer

Sales returns