How tto Record entries
veera (self) (287 Points)
27 July 2021pls clear this doubt from my mind
Komal Barapatre
(210 Points)
Replied 27 July 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 27 July 2021
These are to be debited to p&l account. While late fee may be an allowable deduction, penalty is not an allowable deduction under income tax.
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