No provision for income tax is not allowed as expense as per Income Tax Act

Not Allowable Expenditure at all

All provisions are disallowed under income tax

No naina not allowed...

not allowed 

Not Allowed even calculating profit u/s. 115JB MAT

not allowed........if debited 2 pl ...........it shud b added back in computatn

Proviosion for tax is not allowed as an expense

In fact any kind of provision is not allowed

Originally posted by : Vijay Kumar
	Proviosion for tax is not allowed as an expense In fact any kind of provision is not allowed

Not exactly so. Will u disallow the bad debt provision??

here every body is saying not allow, not allow but no one is wrote why......

1. the reason is that income tax is a personel exp. in nature and any kind of pesonal exp. is not allow as a business exp...and
2. it is a exp of below the line .......income tax, wealth tax ,gift tax and CDT are direct tax in nature hence not allow under income tax act and also provision there of .           
3. but we can journalise it for better accounting purpose.

If u mean "personAl", then i'll prefer to defer..

I dnt think it is disallowed because it is personal.. Other two argument are fine but what will u do in case of a company or a firm, there u cant say it is a personal expenditure.

not allowed..

u think ursef

wen actual expenditure is disallowed

how a provision for the same can be allowed....

@ Above chap..

U didnt get me bro.. I didnt say it is allowed.. I said it is not disallowed as it is personal expenditure..

It is disallowed tht is true but not being a personal exp.

if income tax is not allowed then provision ka toh question hi nahio raise hota...!! not allowed.