Tax treatment of penalty paid under 269 ss and 269 t
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 April 2016
while computing income tax what treatment shall be made for penalty paid under section 269 SS and 269T as per income tax. please reply this question
17 April 2016
Penalty is not an allowable expenditure for calculating income tax.
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 April 2016
respected sir,
if penalty is disallowed then i have to pay tax on penalty @ 30% also on penal amount.
if penalty is disallowed then i have to pay tax on penalty @ 30% also on penal amount.
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