Income from business and profession

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2013 if in the dr side of PROFIT&LOSS a/c
MVAT is return is it allowed as business expense or not
AND PLZ SAY WHAT TO DO OF MVAT

28 October 2013 indirect tax is allowed as expenses under income tax act, but you have to pay it before due date of filing of return or before filing of income tax return. otherwise it will be disallowed U.s 43B of income tax act.

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