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(Querist)
14 June 2011 sir
is interest on late payment of service tax is allowed as deduction under income tax
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ABHISEK TOSNIWAL

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ABHISEK TOSNIWAL (Expert)
14 June 2011 Dear Shubam,

Interest on late payment of service tax is allowed as deduction u/s 37.Due to the fact that it is not a penalty for violation of any law,it is allowed as deduction under Income Tax Act.
Regards
Abhisek Tosniwal
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CA SAURABH GARG

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CA SAURABH GARG (Expert)
14 June 2011 Yes payment of interest of late payment of interest will be allowable deduction.




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