ICICI

Interest on TDS


gayathri maruwada   21 July 2019

gayathri maruwada

 3 likes  55 points

| My Other Post

Should I dissallow interest paid on late payment of TDS? The act says any penalty paid to Tax authorities should be dissallowed .Since there is difference between interest and penalty ,please clarify if I should dissallow or no .If yes under which section

Kunal Mittal (FINANCE OFFICER)     21 July 2019

Kunal Mittal
FINANCE OFFICER 
 20 likes  507 points

View Profile | My Other Post

Interest is allowed, late fees or penalty is not.

Jaya Kaur Labana   21 July 2019

Jaya Kaur Labana

 4 points

View Profile | My Other Post

I have taken a unsecure loan for my personal use & i hv made the payment exceeding the limit specified under 194A......is im liable to deduct TDS?

Assessee is liable for Audit
Assessee is Individual

Kalyani (Chartered Accountant)     21 July 2019

Kalyani
Chartered Accountant 
 6 likes  181 points

View Profile | My Other Post

Interest paid for late deduction of TDS was like penalty and will be disallowed U/s 37.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »