Section 115jb

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2015 should 234E (fee for defaults in furnishing statement) be added to book profit while computing book profit under section 115JB? is that treated as interest (which covers explanation 2 to section 115JB)?

Guest

Guest (Expert)

18 June 2015 Yes it is added back..All Interest under Income Tax are to be added back.

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2015 but the wording used is interest and not fee. if it was 234A,B,C then your right that you should add it to book profit because it is an interest paid under income tax act. while 234E is a fee for default in furnishing statement