Payment of excise duty for earlier years
This query is : Resolved
19 April 2014
In excise dept survey one of my client has found that he is not registered with them.....
then our client has paid all the tax for earlier years and not recover from customers.
So I want to know that all the paid tax is allowed as expenditure in the income tax for this year?
then our client has paid all the tax for earlier years and not recover from customers.
So I want to know that all the paid tax is allowed as expenditure in the income tax for this year?
Rupesh Jain
(Expert)
19 April 2014
yes you calim the tax paid in current year u/s 43(b) tax and duties will allowed by income tax when the duties are paid.
Rupesh Jain
(Expert)
19 April 2014
INTEREST ALSO YOU CAN CLAIM AS EXPENSES.
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