Expenses allowable & disallowable
This query is : Resolved
12 September 2013
Income Tax Paid A.Y. 2010-2011 Amount 6776/-
is Please clear to Income Tax Paid allowable Exp. or Dis allowable Exp.
section mention
is Please clear to Income Tax Paid allowable Exp. or Dis allowable Exp.
section mention
12 September 2013
taxes are never an expense...its just an appropriation..I hope am I not wrong on this!!!
12 September 2013
Income tax paid in NOT an allowable expenditure for computing taxable income. Please refer section 40 (a)(ii) of the Income tax Act,1961.
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