INADMISSIBLE EXPENDITURE
This query is : Resolved
Sukanya Vakkalagadda
(Querist)
09 September 2016
If income tax paid is debited in profit and loss account will it be included under section 28 to 44da as inadmissible expenditure???
Soumitra Basu
(Expert)
10 September 2016
Yest since it is tax on income and thus inadmissible under section 40(a)(ii) of the Income Tax Act.
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