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Deduction in p and l

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404 Points Posted on 11 July 2020
Whether amount paid for violating traffic and having paid a traffic challan , be deducted under p and l under s.37?
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On 11 July 2020 at 11:25 Report
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Chartered Accountant
12739 Points Posted on 11 July 2020

NO , NOT ALLOWED 

40 Reply
On 11 July 2020 at 11:29
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404 Points Posted on 11 July 2020
Please can you give reference to some section for proving this.
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On 11 July 2020 at 11:31
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Practice
3235 Points Posted on 11 July 2020
Penalty / Fine for Traffic Violation not allowable

payments made for any purpose which is an offence or which is prohibited by law and which are not compensatory in nature cannot be allowed as a deduction u/s.37(1) read with Explanation thereto.
13 Reply
On 11 July 2020 at 12:28


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