I have Paid amount 32445/- Against Notice of demand under section 156 of The Income Tax Act 1961 For A.Y.2008-09. But is it amount for allowable for Indirect Expenses In F.Y.2010-11 ? If not Please Advice me for Where Are applicable Of this Amount.
24 December 2010
Income Tax payment is not allowable either as direct or as an indirect expense. Debit it to the capital account of the Individual Assessee.