Is the expenses reported under financial Statement as "Extraordinary expenses" will be allowable as deduction under section 37 of Income tax Act.
Menu
Impact of income tax on extra ordinary expenses
Replies (1)
yes provided they are incurred wholly and exclusively for business purpose.
that requirement is only to show separately for presentation purpose provided that they are not disallowed under income tax act
that requirement is only to show separately for presentation purpose provided that they are not disallowed under income tax act
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
