luxury tax - Disallowance
This query is : Resolved
22 June 2008
Whether luxury tax which was short collected from the customers and paid by the company based on an assessement order and charged to P&L A/c - disallowed
Whether such tax comes under the ambit of provisons of Sec 40 a
Whether such tax comes under the ambit of provisons of Sec 40 a
22 June 2008
if it is not of penal nature,then it is allowable but subject to sec 43B.
if it is paid as penalty,then not allowable.
if it is paid as penalty,then not allowable.
22 June 2008
The luxury tax is paid during 2007-08 towrads asst., order for short payment during 2005-06 which could not be collected from the customers
So., it does not satisfy 43B - So., can it be said that - it is disallowed
So., it does not satisfy 43B - So., can it be said that - it is disallowed
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
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Filling ITR - U
- Sales of goods of amount Rs97 lakhs to a party
- CREDIT NOTES WITHOUT GST
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
