Answers On Topic: Disallowance
Sir, A Rural agricultural land has been sold in AY 2016-17 for 60lakhs for which consideration received in cash and the same is deposited into seller bank ac. Now received a notice from IT regarding the above cash deposit. in reply to IT : If i mention, the cash deposit of 60L pertains to receipt of cash for sale consideration, do it attract any negative impact or any disallowance or u/s 269s/st ? I request you to please give me any suggestion. thanks, Shravan
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Assessee is trader of the steel and also registered under the GSt. Books of accounts are audited U/SEc. 44AB of the Act. In the assessment proceedings for A.Y. 2021-22, A.O. has asked the details of the purchases and on the basis of those details he has sent the Notices U/SEc. 133(6) to various parties. Two parties have not responded to the Notice U/SEc. 133(6) of the Act. AO has issued the SCN to assessee as to why the purchases of these parties should not be disallowed U/SEc. 37 of the Act since they have not responded to Notice U/SEc 133(6)…
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Whether employees contribution towards pf and esi paid after due date as precribed under the prescribed under the law is disallowable u/s 36 of the IT Act, 1961 though paid within due date of filing return as per S43B of the It Act 1961
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A Rural agricultural land has been sold in AY 2016-17 for 60 lakhs