Interest u/s 234b and C allowablity
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2011
Interest u/s 234B,234C and 244 A(3) is allowable as deduction under PGBP ?
12 February 2011
Payment of income-tax is not deductible as per section 40(a)(ii), hence, interest under sections 139, 215 and 217 which is to be regarded as accretion to tax, cannot also be allowed to be deducted.
Citation :- Assam Forest Products (P.) Ltd. V. CIT [1989] 180 ITR 478 (Gau).
On the same analogy, interest payable under sections 234A, 234B or 234C are also not deductible.
Citation :- Assam Forest Products (P.) Ltd. V. CIT [1989] 180 ITR 478 (Gau).
On the same analogy, interest payable under sections 234A, 234B or 234C are also not deductible.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 1: Details for showing Exempt Income
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
