Question

what's outstanding contribution income or property​

Answer 1

As per the income tax act, 1961 Section 43B states that only certain payments can be claimed as an expense in the year which they have been paid and not in the year in which the liability to pay such sum was incurred. This means that certain statutory expenses are allowed to be claimed in the year of payment only. This section is with reference to PGBP (profits and gains of business or profession)

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