Hawala
This query is : Resolved
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
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.
Message likes :
1 times
11 September 2015
CAN YOU PLEASE TELL THE SECTION UNDER WHICH ITS IS ALLOWED
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
