CA Ramsai N (Fresher) 10 May 2013
Interest paid on late payment of TDS is disallowed as per
"" CIT VS ASHOKA MILLS LTD (1996) (GUJ), CIT VS RAIPUR MANUFACTURING CO LTD (1996)(GUJ), BHARAT COMMERECE & INDUSTRIES LTD V CIT (1998) (SC)""
My doubt is where it can be shown in TAX AUDIT REPORT(3CD)??
Thanks in advance.
Rahul garg (ca final student) 10 May 2013
yes . any amount paid by the company by way of interst paid for delayed payment of tds is required to be shown in form no 3cd under the head expenditure by way of penalty or fine for violation of any law for the time being in force
Ganeshbabu K (Audit and Tax Advisory) 10 May 2013
Clause 17(f),..you can show in this clause
|17 f) amounts inadmissible under Section 40(a);||:||As revealed during the course of our examination carried out as indicated against clause 9(b) above, no disallowance under Section 40(a)(ia) relating to expenses on which tax deducted at source was not remitted within due date of filing of return of Income.|