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06 April 2013 tax paid on net profit is allowable expenditure or not . further in case ofPartnership firm or company if they pay tax from firm/co. bank a/c then what will be the treatment
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
06 April 2013 In any case payment of Direct expenditure i.e Income tax,TDS,TCS, Wealthtax are not eligible for expenditure deduction and Payment of Indirect taxes i.e VAT,CST,Excise duty,service tax etc... are eligible for expenditure deduction however it will be change based on the accounting policy following by the assessee i.e in case such Indirect taxes accounting through balancesheet then no deduction of expenditure allowable.

OM SAI SRI SAI JAI JAI SAI
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