Interest and penalties


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06 November 2012 Suppose if i pay any interest or Penalty what will be the effect in my books

Pl. help

06 November 2012 interest on Indirect taxes is allowed but penalties are not allowed under IT act

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2012 What will be the effect of Interest Paid?

08 November 2012 profit will get reduced with the amount paid.


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