Tax audit for the year ended 31st March 09
This query is : Resolved
17 August 2009
Should Interest paid for delayed payment of tax be shown under clause 17(e)of Form 3CD.
Please reply soon.
Please reply soon.
18 August 2009
Actually the clause 17(e) of the form 3CD relates with the any payment in nature of penalty for the violation of law which is disallowable. Though the interest is considered as penalty it is not on account of violation of law so no need to show interest on delayed payment of tax.
Aditya Maheshwari
(Expert)
19 August 2009
Interest paid on delay in payment of TDS is disallowable u/s 40(a) and hence should be shown under 17(f)
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