Penalty paid under income tax
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2016
if any penalty paid under income tax such as 234 E or 271 F or 271 D or 271 E then in this case while computing income tax all penalty shall be added to compute income tax ,
CA R SEETHARAMAN
(Expert)
21 August 2016
Yes all penalty will be added back to compute tax.
21 August 2016
As these expenditures are incurred as a result of violation of law, can't be deducted as expenses.
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