Whether GST Late fees (Rs. 20/day or Rs. 50/day) paid before the due of of filing of Income Tax Return u/s 139 will be allowed as deduction or not ?
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Gst late fees w.r.t. income tax
Replies (3)
no as such relation
What is the nature of Late fees ?
Whether it is in the nature of Interest or penalty ?
Late fee is one of charge for late filing of returns. It's not penalty in GST.
It's also allowed expense under income tax. You can book the expense to PandL account...
It's also allowed expense under income tax. You can book the expense to PandL account...
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