Hi,
Where should interest on TDS be shown in Form 3CD?
Under which section interest on TDS disallowed?.
Please clarify.
Thanks.
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Form 3cd
Replies (4)
40a(ii).-- any interest/penalty/fine for for non payment/late payment of income tax is not deductible.
It should be shown under Point No. 17 (e) (i) of 3CD. It is disallowed as per section 37(1) as it is a fine for delay in payment of TDS.
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agreed
Originally posted by : CA Abhilasha Bhagat |
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It should be shown under Point No. 17 (e) (i) of 3CD. It is disallowed as per section 37(1) as it is a fine for delay in payment of TDS. |
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Ya.but , is it appropriate to treat interest on tds as fine?Since it is just a compensation for delayed remittance just like interest on indirect taxes and it is disallowed only for it being in the nature of income tax.Kindly clarify.
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