Interest charged from debtor

This query is : Resolved 

13 November 2013

Can we charge interest from debtors as query asked by income tax officer

Nikhil (Expert)
14 November 2013

yes you can. many business entities have the credit policies wherein if the payments are not received within a specific period, interest is charged.

Pallav Singhania (Expert)
14 November 2013

yes you can charged such interest on delay payments from debtors...

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