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What is the amount of provision to be made for tax ,with intetest or without interest

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(Querist)
27 December 2013 Hi All, Tax has to be calculated on net income after chapter VIA deductions. What is the amount of provision for tax has to be made when interest applicable for non filing of incometax returns and delay in payments of advance tax?
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Annu Agarwal

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Annu Agarwal (Expert)
28 December 2013 Provisions have to be made of tax amount only ,not of the interest amount.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
28 December 2013 Interest , referred in the query, is an ascertained liability, being mandatory, provision for income tax including interest has to be made in the accounts.
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