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Interest on late payment of tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 June 2013 Whether interest paid on late payment of tds can be allow as indirect expenses
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Rupesh Jain

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Rupesh Jain (Expert)
17 June 2013 u/s income any penality pay any law not allowed
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Ganeshbabu K

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Ganeshbabu K (Expert)
17 June 2013 No ,it is not allowed expenditure.it is disallowed.

The Hon’ble Supreme Court income Bharat Commerce & Industries v. CIT (1998) 230 ITR 733 (SC) held that interest for late payment of direct taxes is not deductible

Thanks & regards
Ganesh babu k
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