TMI BlogAccounting treatment in income taxX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Friends,My client is lawyer deling in Registration Documentaion of the real estate transactions for various campanies.In this connections he left with no option but to pay ( Tips !! others!!) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Govt Officials.How to account in the books of accounts.Is it Admissible under the Income Tax Act.Kindly Clarify - Reply By DEV KUMAR KOTHARI - The Reply = The government would do well to offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ially permit such payments and allow weighted deduction for the same and curtail salary of governemtn employees. Many would work even without pay. But as per law such payements are against public po ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licy, illegal, and not allowable. If some one claim such expenses, he may be caught but he officer to whom tips, speed money, or gifts or in blunt terms bribe will not be affected for want of evidence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Off course if one want to clean system, he can try to keep evidence to establish demand from officers and payment to him and then perhaps a strong case can be made out for allowability of expenses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as a loss incidental to business or profession. - Accounting treatment in income tax - Query Started By: - vijayasathya raman Dated:- 27-7-2009 Income Tax - Got 1 Reply - Income Tax - Discussion Fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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