Inerest paid on late deposit of vat, tds, excise & servi tax

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Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2013 Is interest paid on late deposit of VAT, TDS, Excise & Service Tax is allowable as business expenditure?

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)

22 February 2013 Interest paid on late deposit of VAT Excise & Service Tax is allowable as business expensiture

but interest on late payment of TDS is not allowed

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Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2013 Sir,
where can I get it? Which book I should refer to?

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)

23 February 2013 you can refer Income Tax Act

in the website of Income Tax Department or various other Books publishing Income Tax

Querist : Anonymous

Querist : Anonymous (Querist)

25 February 2013 Please give section and subsection of I.T.Act. Kindly also give page number in " TAXMANN'S DIRECT TAXES Law and Practice"of Vinod Kr singhania and Kapil Singhania

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