Interest on late payment of tds
This query is : Resolved
22 June 2015
Interest on Late payment of Income Tax is not allowable expenditure since it is nature of personal tax which is inadmissible.But whether Interest on Late payment of TDS is also inadmissible although it is purely business expenditure and nowhere in the act it had been mentioned that it is inadmissible business expenditure.Pls suggest
CMA MALHAR BEHERA
(Expert)
22 June 2015
Not allowable as per section 40(a)(ia).
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