DISALLOW OF EXPENSES
This query is : Open
rajib bhattacharjee
(Querist)
15 September 2019
SIR MY QUERY DISALLOWED EXPENSES DEBITED TO P/L A/C LIKE LATE FEE ON GST HOW CAN I SHOW IN SCHEDULE BP IN ITR 5
Gokul Sharma
(Expert)
15 September 2019
under other expenses head
but add back at the time of computation of tax
rajib bhattacharjee
(Querist)
15 September 2019
THANKS SIR BUT WHICH SERIAL NO. OF SCHEDULE BP
CA Ankur Tripathi
(Expert)
16 September 2019
Late fee on TDS, GST is compensatory in nature and a debatable topic... please dont disallow it from yourself... let it be on the discreation of AO.
Gokul Sharma
(Expert)
16 September 2019
Read more at: https://www.caclubindia.com/forum/can-gst-late-fee-be-deducted-from-income-tax--473520.asp
Read more at: https://www.caclubindia.com/forum/can-gst-late-fee-be-deducted-from-income-tax--473520.asp
16 September 2019
Yes I agreed to Mr CA Ankur Tripathi.,
GST Late Fee is allowable expense in income tax...
GST penalty only disallow in income tax.
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