Vat expense while calculating income tax payable
This query is : Resolved
Pavan Kumar Vaddella
(Querist)
14 August 2015
Dear sir,
Can vat paid during the year be taken as allowable expense while calculating tax payable for the year ??
Regards
Pavan Kumar Vaddella
Can vat paid during the year be taken as allowable expense while calculating tax payable for the year ??
Regards
Pavan Kumar Vaddella
CA Jitendra Daraji
(Expert)
14 August 2015
Dear Friend
Yes, VAT Paid during the year is allowable expense. You also able to get deduction of Unpaid Vat on 31 st march provided that u make payment of the same before due date of return of income.
Yes, VAT Paid during the year is allowable expense. You also able to get deduction of Unpaid Vat on 31 st march provided that u make payment of the same before due date of return of income.
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