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Interes on TDS and Interest on Service Tax under income tax.

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Querist : Anonymous

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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 ??
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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.
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