09 January 2016
whether interest on late payment of professional tax and penalty on professional tax is allowed under income tax Act also provide related case law
09 January 2016
Penalty on PT is disallowed Disallowance of certain taxes By virtue of section 40(a)(ib)/(ic)/(ii)/(iia) following are not deductible: Income-tax (including interest, fine, penalty, etc.) whether payable in India or outside India Wealth tax levied under the Wealth-tax Act, 1957 or similar tax chargeable under any law outside India
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