Menu
interest on late deposit of income tax
if a company has paid interest on late deposit of income tax whether it would be allowable as expense or not
Replies (2)
Since interests are compensatory and not penal in nature, they're allowed to be deducted as expenses. So, the interest you paid on late income tax is very much an expense and is eligible to be deducted.
what about interest on TDS paid
Recent Topics :
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
- Online PAN Download: Check How?
- Demand of Late fee/Interest under section 75 of GS
- DSC registration on TRACES portal
- Can we get registered for MCA if we get a Virtual
- DONATION PAYMENT REG
- GST IDS Refund – Statement 01A: Invoice Not
Related Topics :
CAclubindia
