Interest on Income tax
This query is : Resolved
06 January 2009
Whether Interest on income tax (234 B & C) should be included in provision for income tax in P&L a/c?
Is there ICAI Clarification?
Please make reference, if any?
Is there ICAI Clarification?
Please make reference, if any?
06 April 2012
Provision for tax is to be created for the final tax liability of the company.
Final tax liability includes interest u/s 234B and 234C, which can easily be calculated.
Accordingly, provision should be made for the tax including interest.
Final tax liability includes interest u/s 234B and 234C, which can easily be calculated.
Accordingly, provision should be made for the tax including interest.
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