INTEREST & PENALITIES
This query is : Resolved
28 June 2011
Dear Sir
does interest paid on later deposit of TAx (TDS , STAX etc) will be allowed as expenses or deduction in income tax & penality charges paid for late filling of tax return will also be allowed as expenses.
Please advice section No. with
Thanks in Advance
does interest paid on later deposit of TAx (TDS , STAX etc) will be allowed as expenses or deduction in income tax & penality charges paid for late filling of tax return will also be allowed as expenses.
Please advice section No. with
Thanks in Advance
28 June 2011
Interest paid on service tax is allowed.
Interest or penalty for compensating the late payment of Service Tax is allowed.
However, any interest, penalty etc in connection with Income Tax or TDs is not allowed as expense.
Interest or penalty for compensating the late payment of Service Tax is allowed.
However, any interest, penalty etc in connection with Income Tax or TDs is not allowed as expense.
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