18 January 2022
Is this view correct ? Interest on income tax - NOT allowable exp. Interest on GST - allowable exp.(since it is compensatory in nature) while in case of income tax it is part of income tax which is itself not an allowable exp.
GST Penalty - not allowable GST fees - allowable TDS late fees - allowable
19 January 2022
One of the teaching faculties has a view that you t is nothing but fees for filing TDA return after prescribed date....
So in my opinion is that in Normal cases it would be allowed...but if the same has to be paid under a demand by ITD it would not be allowed since it would become a part of penalty and therefore penal in nature....is that view correct
CAclubindia
