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Interest Paid on late Pmt of TDS

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(Querist)
19 July 2009 Is interest paid on late payment of TDS allowable expense while computing tax ?
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Jitender

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Jitender (Expert)
19 July 2009 it is not allowable.
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umesh gupta

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umesh gupta (Expert)
20 July 2009 it is allowable expense because it nit income tax under the act and nor penalty.




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