Splet13. 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 … Splet07. maj 2024 · Persons Covered under 40 (A) (2) (b) *Here Only Company/AOP/HUF/Firm have substantial Interest in the assessee business or profession. *If …

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SpletClause 23: Payments made to persons specified u/s 40A(2)(b) This clause is applicable to all the assessees and requires the Tax Auditor to report payments made by the assessee … Splet29. jan. 2003 · The assessee further contended that the A.O. was erred in disallowing interest payments to non-related parties under the provisions of section 40A(2)(b) of ... of Rs. 1.50 crores i.e making 10% disallowance out of the payment to specified persons under Section 40A(2)(b) ... purchases made by the assessee from the persons specified U/s. … boise scenery

Payments to Specified Persons us 40A 2 b - TallyHelp

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. 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) 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 the Assessee to the aforesaid two ladies were excessive or unreasonable by comparing the prevalent market rates. boise sawtooth