In a particular case service tax for the month of March 2014 is paid on 30th May 2014 with interest.
My query is that in which assessment year this interest is allowed in income tax in 2014-15 or 2015-16 ????
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Interest on service tax
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In assessment year 15-16
it will be allowed in AY 14-15 only because the amount has been paid before the due date of filing of return. refer to sec. 43B of income tax act.
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