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TAX AUDIT- Clause 21a
If an assessee has paid late fees on gst and professional tax, will the same has to be shown in 3CB Clause 21a under Expenditure by way of penalty or fine for violation of any law for the time being force ?
Replies (2)
No you don't need to show this in clause 21a as these are allowable expenses in PGBP. Here you have to show those expenses which are disallowed while computing profit in PGBP like Interest on TDS.
21 (a) - Furnish the details of amounts debited to the profit and loss account, being in the nature of Capital, Personal, Advertisement Expenditure, etc. Expenditure of Capital Nature:- Expenditure of capital nature which is debited to profit and loss account has to be reported.
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