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Interest charged from debtor (Income Tax)

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This query is : Resolved

( Querist )
13 November 2013

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


( 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.

Aryan Singhania (Pallav)

( Expert )
14 November 2013

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



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