HELLO ALL,
INTEREST PAID ON ESIC WHILE AT THE TIME OF ASSESSMENT FOR LAST 4-5 YEARS IS ALLOWABLE AS DEDUCTION IN YEAR IN WHICH IT IS PAID OR ONLY PRINCIPAL AMOUNT I.E. BASIC TAX AMOUNT IS ALLOWABLE AS DEDUCTION ?
KINDLY RESOLVE MY QUAARY
HAPPY AUDIT PERIOD................
Dear Ujjwal sir,
only the basic tax amount would be eligible for deduction u/s 43B... in my view, interest paid on such amount would not be allowed...
Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
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