Assessment of firm

Direct Taxation

Is sales tax and penalties & fees allowable expenses in assessment of firm?

Pushkala S

CA Final

★ 3K+

07-Feb-22 14:29

588

Answers (4)

Fines or penalty paid for violation of any law cannot be allowed as deduction.

Yoga Vishnu

CA Final

★ 11K+

07-Feb-22 15:45

Yoga Vishnu

Fines or penalty paid for violation of any law cannot be allowed as deduction.

Ok sir..what about sales tax?

Thread Starter

Pushkala S

CA Final

★ 3K+

07-Feb-22 15:47

Thread Starter

Pushkala S

Ok sir..what about sales tax?

Allowed only when it is actually paid.

Yoga Vishnu

CA Final

★ 11K+

07-Feb-22 15:48

Yoga Vishnu

Allowed only when it is actually paid.

Ok sir.. Thank you

Thread Starter

Pushkala S

CA Final

★ 3K+

07-Feb-22 16:28