Hil all,
If we are purchasing goods from Unregistered dealers, is it going to create a problem in income tax for claiming expenses? (Are these expenses disallowed in income tax)
The purchases are directly related to business.
3 Replies
CA Gaurav Ajit Potdar
(Chartered Accountant)
(846 Points)
Replied 11 January 2013
No if bills are available it will not create any problem for claiming expenses in income tax.
kavitha
(studying final)
(830 Points)
Replied 11 January 2013
no, income tax cant disallow such expenses....
Vat--- you cant claim input tax credit if you are purchasing form unregistered dealer.
although we dont what is your case clearly, can you elobarate a little to get clear picture of what excatly going??
Man
(Accountant)
(77 Points)
Replied 11 January 2013
My concern was with income tax. But even for vat I think for urd purchases, we first pay the tax & then claim setoff in next month isnt it!
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