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Interest on Custom Duty

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(Querist)
04 June 2011 Is interest paid on Custom Duty considered as deductible expense as per Income Tax Rules????
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 June 2011 If Custom Duty paid is being considered as an expense , interest thereon will also be considered as an expenses.
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CA Sumat Singhal

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CA Sumat Singhal (Expert)
06 June 2011 Interest on any tax or duty is in the form of compensatory in nature so i think is deductible....
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