Tax treatment of penalty paid under 269 ss and 269 t

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Querist : Anonymous

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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.

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Querist : Anonymous

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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.


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