Whether Property Tax and "interest on entry tax, PF, ESIC etc." allowed under 37(1) ?
1 Replies
Siddarth R Sunder Ram
(Finance Professional)
(230 Points)
Replied 26 June 2012
Under Section 37(1) only penalties paid in connection with an offence is disallowed. Interest paid on PF, ESI is not the same as penalty and hence should be allowable expenditure.
In case of taxes, only income tax and wealth tax is disallowed; property tax is a genuine expenditure which is incurred and hence should be allowed.
Recent Topics
- Nznxnc call me at the end of the day of the
- Cp chod doob zoom vo book book
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
Related Threads
CAclubindia
