banner_ad

Whether interest paid u/s 234 b& c allowed as exp/deduction

This query is : Resolved 
Profile Image

Profile Image

(Querist)
27 June 2015 hi......

whether Interest paid u/s 234B & 234C of Income Tax is allowed as exp/deduction under Income Tax ??

If Yes Kindly provide the reference of relevant section/case law etc...

Regards,
Vikas Sharma
Profile Image

CA. Sunil Gokhale

Profile Image

CA. Sunil Gokhale (Expert)
27 June 2015 No, it will not be allowed as deduction. Only expenses incurred for the purpose of business or profession are allowed as deduction. Income-tax is not allowed as deduction as it is not an expense and therefore payment of interest for late payment of income-tax will also not be allowed as deduction.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details