What is section 43B of Income tax act

Section 43B of Income Tax act allows certain expenses on the basis of actual payment made within the stipulated time i.e. before the due date of filling income tax return. If such expenses are not paid within the due date then it will be allowed in the year of payment i.e. on the basis of actual payment. Section 43B will be applicable only if incomes are chargeable to tax … [Read more...] about Section 43B – Tax deductions based on actual payment