Deductible expense?

Tax queries 193 views 2 replies

Are the following payment, deductible expense under Income tax Act?

1. Income tax paid for previous years

2. Advance tax

3. Other Statutory payments like VAT, Excise Duty, Service tax etc

4. Dividend

5. Dividend Distribution tax

6. Employee Contribution to EpF, ESI

7. TDS

Please help me...I know its a silly question but i want to make myself clear..

Replies (2)
No, these are not expenses,its statutory liabilities.

Employees contribution to ESI, PF etc are deductible if the same is deposited by the company within the time limit given in respective acts.

Unsure about DDT.

Other things not deductible.

All the best


CCI Pro

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