Allowablity of int. on income tax
This query is : Resolved
30 March 2017
As per sec. 40(a)(ii) amount paid as income tax is not an allowable exp. in P&L.
So is int. exp. on income tax or int. exp. on income tax demand is allowable or not ??
So is int. exp. on income tax or int. exp. on income tax demand is allowable or not ??
30 March 2017
To disallow for income tax purpose. Pl read in https://www.caclubindia.com/experts/interest-on-income-tax-is-allowable-or-not--1125154.asp
Courtesy :- Ms Pooja Agarwal.
Courtesy :- Ms Pooja Agarwal.
30 March 2017
Okay sir i got about income tax, but what about int. on TDS or late fee for TDS filling or amount paid as TDS demand ??
30 March 2017
Interest on no deduction / belated payment of TDS is NOT a business expenditure.
Citation:- CIT Vs. Chennai Properties & Investments Ltd (1999) 239 ITR 435 (Mad).
Citation:- CIT Vs. Chennai Properties & Investments Ltd (1999) 239 ITR 435 (Mad).
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