Late fee paid for IT filing


This query is : Resolved 

Quick Summary
This discussion clarifies whether a late fee paid for filing an IT return can be claimed as a business expense. The consensus is that it cannot be claimed, even for companies or partnership firms. Therefore, these late fees are not tax-deductible business expenses.

21 January 2025 Can I claim the late fee paid for filing my IT return late as a business expense?

21 January 2025 No. Not allowed.

21 January 2025 I mean, IT return of company or Partnership firm

21 January 2025 No. Not even for company or Firm.

21 January 2025 thanks, sir, for your clarification.

21 January 2025 You are welcome.


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