Hil all,
If we are purchasing goods from Unregistered dealers, is it going to create a problem in income tax for claiming expenses? (Are these expenses disallowed in income tax)
The purchases are directly related to business.
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Urd purchases
Replies (3)
No if bills are available it will not create any problem for claiming expenses in income tax.
no, income tax cant disallow such expenses....
Vat--- you cant claim input tax credit if you are purchasing form unregistered dealer.
although we dont what is your case clearly, can you elobarate a little to get clear picture of what excatly going??
My concern was with income tax. But even for vat I think for urd purchases, we first pay the tax & then claim setoff in next month isnt it!
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