Interest on Custom Duty

This query is : Resolved

Sujal Shah (Querist)
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04 June 2011 Is interest paid on Custom Duty considered as deductible expense as per Income Tax Rules????

CA PARAS BAFNA (Expert)
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05 June 2011 If Custom Duty paid is being considered as an expense , interest thereon will also be considered as an expenses.

CA Sumat Singhal (Expert)
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06 June 2011 Interest on any tax or duty is in the form of compensatory in nature so i think is deductible....

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