banner_ad

Expenses allowable or not

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 August 2010 sales tax apid of earlier yrs if w\off to p&l whether allowable exp. or not? also interest on late payment of sales tax allowable or not?
Profile Image

Ram Avtar Singh

Profile Image

Ram Avtar Singh (Expert)
12 August 2010 Sales tax, Service tax and other interests which are incidental to the business the same is an allowable expenditure. Any penalty paid regarding those issues is not an allowable expenditure.
Profile Image

CA. BIJENDER KR. BANSAL

Profile Image

CA. BIJENDER KR. BANSAL (Expert)
12 August 2010 ADDITIONAL SALES TAX I.E PAID FOR EARLIER YEARS ARE ALLOWABLE AS EXPENSES. INTESRT IS ALSO ALLOWED AS EXPENSES BECAUSE IT IS COMPENASATORY NATURE NOT PENAL NATURE.

ANY INTERST WHICH IS PENAL NATURE IS NOT ALLOWED.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details