Sec 40(a)
This query is : Resolved
09 June 2013
40(a) has nothing to do with CST interest. Seems section referred is wrong.
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15 June 2013
40(a)(ia) talks about interest. But that reference is related to an interest covered in section 194A. Again interest referred in section 194A ,as per my understanding, should generate from an underlying financial asset. CST interest doesn't satisfy the above condition, hence can't be disallowed u/s 40(a)(ia).
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