Interest paid on Statutory Payments.
This query is : Resolved
09 October 2010
Dear all,
Any Interest, penalty paid on statutory payments for the delay in making those payments are disallowed while computing PGBP. Is it U/s 37(1)?
Thanks in Advance,
Vidya G.
Any Interest, penalty paid on statutory payments for the delay in making those payments are disallowed while computing PGBP. Is it U/s 37(1)?
Thanks in Advance,
Vidya G.
09 October 2010
Interest on income tax is to be disallowed u/s 40(a)(ii). Penalty disallowance comes under 37(1).
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