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Reagrding payments out of capital

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(Querist)
02 September 2013 can income tax be paid out of capital
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CA Vijeta Verma

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CA Vijeta Verma (Expert)
03 September 2013 No.
Income tax is a corporate /personal liablity it can't be paid out of capital.
Though you can take loan for the same but that would be inadmissible expense for the purpose of PGBP

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