I want to know whether Interest paid U/s.234A, 234B and 234C on Income Tax and Interest U/s.115WK on FBT is an allowable expenditure under IT Act.
Rgds/Dharmaraju
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 10 February 2009
It is not deductible u/s.40(a).
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