Allowabiility of expenditure
This query is : Open
26 May 2017
Is late filling fees paid u/s234E and Interest on late deposit of TDS is allowable as business expenditure.
26 May 2017
Interest on TDS is not a business expenditure. Citation:- CIT Vs. Chennai Properties & Investments Ltd 239 ITR 435 (Mad).
CA CS Jainam Shah
(Expert)
26 May 2017
Late filling fees u/s 234e is a penalty and penalty is never allow as business expenditure.
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