Tds
This query is : Resolved
22 July 2013
Plz tell me that interest paid on TDS/VAT for delay payment is allowed as business expenditure while computing business income??
Kindly tell me section numbers..
Kindly tell me section numbers..
22 July 2013
allowed u/s 43B, but only indirect taxations interest.
Interest paid on TDS/income tax/wealth tax not allowed.
Interest paid on TDS/income tax/wealth tax not allowed.
22 July 2013
But sec 43B says any sum payable by the assessee by way of tax, duty, cess or fee & not the not mention any thing for interest.
22 July 2013
yes, interest paid under any other law (except Income tax) considered as tax duty and cess only.
22 July 2013
refer case:-
the Calcutta High Court in the case of Hindustan Motors Ltd. v. CIT, 218 ITR 450.
before the Rajasthan High Court in the case of Shree Pipes v. Dy. CIT, 209 CTR 444.
the Calcutta High Court in the case of Hindustan Motors Ltd. v. CIT, 218 ITR 450.
before the Rajasthan High Court in the case of Shree Pipes v. Dy. CIT, 209 CTR 444.
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