banner_ad

Hawala

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 September 2015 ASSESSEE IS IN DEFAULT OF HAWALA PURCHASE AND LIABLE TO PAY HAWALA VAT. IT PAY HAWALA VAT RS. 108190/- ALONG WITH INTEREST AND PENALTY IS ALLOWED AS BUSINESS EXPENSES? WHAT IS ITS TREATMENT
Profile Image

CA PRIYUL SHAH

Profile Image

CA PRIYUL SHAH (Expert)
11 September 2015 Hawala vat and interest can be claimed as business expense but penalty is not allowed u/s 37. You can not take penalty paid as business expense.
Profile Image

sneha kumbhar

Profile Image

sneha kumbhar (Querist)
11 September 2015 CAN YOU PLEASE TELL THE SECTION UNDER WHICH ITS IS ALLOWED
Profile Image

CA PRIYUL SHAH

Profile Image

CA PRIYUL SHAH (Expert)
11 September 2015 If paid before due date of filling of return then it is allowed as per section 43B.
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
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

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

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details