Disallowance of interest on tds late payment
This query is : Resolved
21 September 2011
If a pvt ltd company has deducted tds but paid to the government late . so the compnay paid tds amount along with Interest.
Interest on late payment of Tds can be dissallowed under Income tax Act
Interest on late payment of Tds can be dissallowed under Income tax Act
21 September 2011
I don't think so interest paid on delay is not disallowable.
21 September 2011
Interest on belated payment of TDS is not a business expenditure and hence will be disallowed for income tax purposes.
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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