Menu
TAX AUDIT- Clause 21a
If an assessee has paid late fees on gst and professional tax, will the same has to be shown in 3CB Clause 21a under Expenditure by way of penalty or fine for violation of any law for the time being force ?
Replies (2)
Quick Summary
No you don't need to show this in clause 21a as these are allowable expenses in PGBP. Here you have to show those expenses which are disallowed while computing profit in PGBP like Interest on TDS.
21 (a) - Furnish the details of amounts debited to the profit and loss account, being in the nature of Capital, Personal, Advertisement Expenditure, etc. Expenditure of Capital Nature:- Expenditure of capital nature which is debited to profit and loss account has to be reported.
Recent Topics :
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
- TDS on dividend to non resident shareholders
- Best CA Inter classes in Laxmi Nagar for Group 1?
CAclubindia
