Nature of interest
This query is : Resolved
SUNIL UPADHYAY
(Querist)
21 September 2012
WHETHER INT ON LATE DEPOSITED OF STATUTORY DUES ARE ALLOWABLE IN INCOME TAX POINT OF VIEW. IF NOT THEN WHAT,S NATURE OF INTEREST IS NOT ALLOWED>
CA Ayush Agarwal
(Expert)
21 September 2012
Only Interest Paid on Income Tax, TDS are Not allowed Under Income Tax Act.
Other are Allowed for eg. on sales tax, vat cst, excise duty service tax etc.
Other are Allowed for eg. on sales tax, vat cst, excise duty service tax etc.
SUNIL UPADHYAY
(Querist)
24 September 2012
thanx ayush ji
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