Allowability of interest
This query is : Open
17 June 2010
Sir,
I paid Rs. 12,45,640/- (including interest Rs. 1,33,460/-) on 14/05/2010 for MVAT for the month of Feb 2010. Whether interest Rs. 1,33,460/- paid on 14/05/2010 allowed in assessment year 2010-11 or 2011-12. Please also provide section or provision reference.
Thanking You
I paid Rs. 12,45,640/- (including interest Rs. 1,33,460/-) on 14/05/2010 for MVAT for the month of Feb 2010. Whether interest Rs. 1,33,460/- paid on 14/05/2010 allowed in assessment year 2010-11 or 2011-12. Please also provide section or provision reference.
Thanking You
30 June 2010
Interest is allowed in AY 2010-11 if paid before filing of return of income or before due date of filing of return.
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