Interes on TDS and Interest on Service Tax under income tax.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2010
hello, i want to know whether interest on tds and interest on service tax is disallowed under income tax Act, if yes under which section ??
07 September 2010
Interest on belated payment of TDS is not a business expenditure.
Citation :- CIT V Chennai Properties & Investments Ltd. (1999) 239 ITR 435 (Mad).
Service tax is an allowable expenditure. So interest on belated filing is also an allowable expenditure.
Interest on belated payment of TDS is not a business expenditure.
Citation :- CIT V Chennai Properties & Investments Ltd. (1999) 239 ITR 435 (Mad).
Service tax is an allowable expenditure. So interest on belated filing is also an allowable expenditure.
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