Tax audit
This query is : Resolved
10 November 2014
interest on late payment of tds is allowed atr expenses or should be disallowed?
10 November 2014
Interest on TDS is levied under section 201(1A) of the Income tax Act,1961. The said expenditure will not be allowed as a business expenditure. Citation: Madras high court decision in CIT V Chennai Properties & Investments Ltd reported in 239 ITR 435
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