Interest on delay payment of TDS

narender

head-taxation and audit

20 Points Posted on 20 September 2009

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

Replies (1)

Rajeev

www.rkmco.com

20 Points Posted on 20 September 2009

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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Interest on delay payment of TDS

narender

Rajeev

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Interest on delay payment of TDS

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