Dear Sir,
Dear Sir
It's fully allowed as a deduction from Business of Profession Income.
As per section 36 of income tax act 1961, any interest paid for late payment of Sales Tax or late submission of Sales Tax Return are allowed as deduction.
It's not a infringement of Law.
Krea University
Chennai
CA
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M N Rao & Associates LLP
Vijayawada
CA Inter
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Fytomax Nutrition Private Limited
Aurangabad
CA Inter
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CCI
Pro
CAclubindia
