Penalty,interest on service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 August 2012
IF A COMPANY PAY DURING THE YEAR RS 4000000/-SERVICE TAX DURING INVESTIGATION AND RS 4000000/- AS INTEREST THEREON CAN IT ALLOWABLE TO A PRIVATE COMPANY
09 August 2012
Tax is always allowable. The interest in the nature of penalty should be checked in detail before allowing as expenses.
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