Dear All
Interest paid on DELAY Remittence of TDS is Allowable expenditure
or Dissalowed if it is Disallowance which section it is?
Please suggest me
thank u
Narender
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Interest on delay payment of TDS
Replies (1)
Interest paid on late deposit of TDS is not an allowable business expenditure. Citation : - 1) Bharat Commerce & Industries Ltd 98 Tax 151 (sc)--- delivered in the context of advance tax delayed remittance. 2) National Engineering industries Ltd 113 ITR 252 (Cal) --- delivered in the context of delayed payment of tax u/s 220(2).
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