Tax trentment on expenses
This query is : Resolved
arpit jhaveri
(Querist)
25 January 2013
if any expenses made during the year but not shown in books of account then it will be taxable or not?
CA PARAS BAFNA
(Expert)
25 January 2013
It will be taxable if the same will be caught by the tax authority. Otherwise, tax is not levied on admissible expenses.
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arpit jhaveri
(Querist)
26 January 2013
sir, for example i have a cash balance of rs. 500000 any i some expenses of rs. 400000 which i not shown in books of account then it is taxable or not??
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