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Allowable or disallowed

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 May 2013 I have paid p.tax of my company of last 4 years in this fy with penalty and late fine.
Will i be allowed deduction for that or the expenses claimed will be disallowed?
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
18 May 2013 Penalty and Late Fine will be disallowed
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Querist : Anonymous

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Querist : Anonymous (Querist)
19 May 2013 And the main expenses of taxes will be allowed or not?
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
21 May 2013 any sum payable by the assessee by way of tax, duty, cess or fee, (by whatever name called, under any law for the time being in force);Refer Sec 43B

So it will allowed

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