Treatment of interest paid u/s 234 b & c for tax computatio
This query is : Resolved
Priti Goel
(Querist)
19 August 2014
There is a partnership firm which has paid interest U/s 234B & C for the A.Y 13-14 during A.Y 14-15. What will be the treatment for the payment of interest for computation of tax?? Where it will be reflected in the final accounts??
Rupesh Jain
(Expert)
19 August 2014
it is debit to partner capital a/c
Message likes :
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CA UMESH DULAL
(Expert)
19 August 2014
you may write off as expenses................
Priti Goel
(Querist)
19 August 2014
how it can be written off as expense.....is it allowable???
CA P K AGRAWAL
(Expert)
22 August 2014
no, not allowed, rupesh is right
CA P K AGRAWAL
(Expert)
22 August 2014
Mr. Umesh how u can say that??
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