Defferences between panelty and interest
This query is : Resolved
rajeev khulbe
(Querist)
08 April 2010
sir please tell me Defferences between panelty and interest. i m confeused. as soon sir.
CMA.Palani Arumugam
(Expert)
09 April 2010
Penalty means amt.payable as a fine for the non-compliance of the statutory provisions of any act.
Interest means which are payable on loan or amount payable on account of delay in any payments which are due.
Interest means which are payable on loan or amount payable on account of delay in any payments which are due.
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