Constituents of finance cost as per revised schedule vi

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Dhanesh B.Lande (Querist)
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06 August 2013 Hi,
Can you please let me know what does finance cost comprise of as per revised schedule VI?
Does interest on Late payment of Tax ( TDS, IT etc) come under the head finace cost? Please reply as soon as possible.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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06 August 2013 No Interest on Late deposit of taxes will not come under finance cost. Finance Cost will consist of interest on both secured and unsecured loan taken.

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Dhanesh B.Lande

Dhanesh B.Lande (Querist)
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07 August 2013 Thanks Sir

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