Tax
This query is : Resolved
ATUL BELEL
(Querist)
15 May 2013
Hi guys can anyone tell me if the amount of interest paid on late payment of mvat is deductible as per income tax act. 1961 or not...
Ganeshbabu K
(Expert)
15 May 2013
all penalty,late fees debited to profit&loss account were disallowed as per incometax act
can be shown in 17 clause of 3cd(e)(ii) any other penalty,fee,
can be shown in 17 clause of 3cd(e)(ii) any other penalty,fee,
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