credit for indirect taxes paid -reg.
This query is : Open
parvind bagri
(Querist)
04 July 2017
Is there any provision in the income tax act, that we can claim deduction while filling ITR for all the indirect taxes we have paid throughout the FY?
Ultimately it is the part of our income which we have already returned to the government in the form of indirect taxes. How there can be income tax on the indirect taxes paid?
CA Rashmi Gandhi
(Expert)
04 July 2017
Deduction of all indirect tax allowed.
parvind bagri
(Querist)
04 July 2017
under which section mam?
CA Rashmi Gandhi
(Expert)
04 July 2017
u/s 37(1)........
parvind bagri
(Querist)
04 July 2017
mam that is for business. Can an individual claim deduction for the indirect taxes he paid to the govt?
CA Rashmi Gandhi
(Expert)
04 July 2017
Yes he can.
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