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Is penalty permissible under income tax act
please clarify in what situation it is, if yes.
Replies (4)
Quick Summary
For various defaults, various penalty provisions are there. specify the failure so that its corresponding penalty provisions could be shared
You are a student as per your profile.
Hopefully CA student .
Why it's not permissible ?
Any reasons.
Day and night citizens pay penalty for breaches of Law. You are aware of that.
isn't it ?
Hopefully CA student .
Why it's not permissible ?
Any reasons.
Day and night citizens pay penalty for breaches of Law. You are aware of that.
isn't it ?
According to the provisions of the Income-tax Act, if a person is penalised for violating a law, the penalty paid for the offence is not allowable as expenditure for the purpose of computing his income under the Income-Tax Act
Accordingly , it will not be permissible under the Income Tax act
According to the provisions of the Income-tax Act, if a person is penalized for violating a law, the penalty paid for the offence is not allowable as expenditure for the purpose of computing his income under the Income-Tax Act
Accordingly , it will not be permissible under the Income Tax act
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