Grossing up
This query is : Resolved
26 June 2014
We are paying service tax with method grossing up. that is the amount received is inclusive of service tax and accordingly discharging service tax liability
My question is whether this service tax paid from our pocket is allowable expenditure under income Tax
My question is whether this service tax paid from our pocket is allowable expenditure under income Tax
28 June 2014
Of course it is an allowable expenditure if the entire gross amount received by you is credited to P & L Account at the time of providing the service.
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