Allowability of Expenses
This query is : Resolved
23 September 2009
Dear Sir,
Please tell whether following expenses/items are allowed while calculating tax on income:-
1.Demand of ESI
2.Interest on Delay of TDS
Whether Interest u/s 234b & c is payable on Mat Also
Regards
Please tell whether following expenses/items are allowed while calculating tax on income:-
1.Demand of ESI
2.Interest on Delay of TDS
Whether Interest u/s 234b & c is payable on Mat Also
Regards
chetan soni
(Expert)
24 September 2009
ESI demand is allowed expenses. But just check whether the ineterest is penal interest or just late payment interest. If this is penal interest then this will not be allowed.
And yes interest u/s 234 B C is applicable on MAT amount.
And yes interest u/s 234 B C is applicable on MAT amount.
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