Interest on delayed payment of tds is allowable or not??
This query is : Resolved
17 August 2012
Dear Friends,
I have one query regarding Interest on delayed payment of TDS. Whether interest paid on such delayed payment of TDS u/s 201 of Income Tax Act is allowable business expenditure or not.
Please give me relevant case laws/ High Court judgements (latest) if any.
Regards,
Mandar
I have one query regarding Interest on delayed payment of TDS. Whether interest paid on such delayed payment of TDS u/s 201 of Income Tax Act is allowable business expenditure or not.
Please give me relevant case laws/ High Court judgements (latest) if any.
Regards,
Mandar
17 August 2012
interest per se are not pecuniary in nature and hence can be allowed subject to however sec 43B. Penalty in whatever form can not be allowed.
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