Provisions
Shubhangi Mathur (student) (127 Points)
26 September 2015
are the provision of audit fees income tax pf are allowed as deduction
Shubhangi Mathur (student) (127 Points)
26 September 2015
CA AnKiT BoHrA (AB)
(Manager)
(25955 Points)
Replied 26 September 2015
yes it is allowed ..........!!
Miss Rinkal
(Student)
(1304 Points)
Replied 26 September 2015
With what respect are you claiming for?
If you are calculating profits from business in income tax then
Provision of audit fees and pf are allowed expenses. However provision for income tax or income tax paid expense are disallowed.
Else, if calculating income from any other source / head, these expenses cannot be allowed
Shubhangi Mathur
(student)
(127 Points)
Replied 27 September 2015
Miss Rinkal
(Student)
(1304 Points)
Replied 28 September 2015
U/s 37 if the expense is incurred as business expense
CAclubindia
