Accounting of 234a,b,c interest

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kiran (Querist)
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01 September 2018 Dear All,
What is the accounting treatment of 234A, B , C Interest & If it is included under Interest expenses should it be disallowed?
Regards,
Kiran.

Gokul Sharma

Gokul Sharma (Expert)
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01 September 2018

Read more at: https://www.caclubindia.com/experts/is-interest-on-income-tax-paid-is-allowed-463240.asp

RAJA P M

RAJA P M (Expert)
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01 September 2018 No... It's allowed expenses.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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03 November 2021 Interest payable under the provisions of the Act is also covered - Payment of income-tax is not deductible as per section 40(a)(ii); hence, interest under sections 139, 215 and 217 which is to be regarded as accretion to tax, is also be allowed to be deducted.

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