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Interest on penalty

Ankush (Student) (1364 Points)

19 October 2019

Is the same allowable expense?

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3 Replies

Dipesh Jha (PRACTICE ) (673 Points)
Replied 19 October 2019

If it is Compensatory in nature then it is allowed.

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Kapadia Pravin (17259 Points)
Replied 19 October 2019

Is it under income tax act ?
in that case it's not at all allowed

RAJA P M ("Do the Right Thing...!!!") (127999 Points)
Replied 20 October 2019

No... Not allowed in IT act.

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