Wat expenses are allowable
This query is : Resolved
25 April 2010
i need clear clarification on these regard whether these are allowable expenses?
if not y?
i) Interest on TDS payment
ii) Service Tax paid
iii) Int on service tax paid
iv) penalty on service tax paid
v) int on prof tax/PF paid
vi) income tax penalty
y and y not if such above mentioned expenses are allowed are not allowed by the act. poss ref with case laws or sections plz
if not y?
i) Interest on TDS payment
ii) Service Tax paid
iii) Int on service tax paid
iv) penalty on service tax paid
v) int on prof tax/PF paid
vi) income tax penalty
y and y not if such above mentioned expenses are allowed are not allowed by the act. poss ref with case laws or sections plz
CMA RV Padmakumar.A
(Expert)
25 April 2010
generally any expenditure with penal nature cannot be allowed,but compensatory nature can be allowed..
CMA RV Padmakumar.A
(Expert)
25 April 2010
income tax paid cannot be deduct able under income tax act.
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