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Interest on tds
interest on TDS is allowed or disallowed u/s 37
Replies (3)
It would be disallowed
It is absolutely allowable
Interest on late payment of TDS can't be said to be penal in nature as the term 'interest' by its very nature is compensatory.
Any payment which is compensatory in nature can't be disallowed u/s 37 on the ground of penalty.
Moreover, there is no specific section which disallows the interest on late payment of TDS.
Any payment which is compensatory in nature can't be disallowed u/s 37 on the ground of penalty.
Moreover, there is no specific section which disallows the interest on late payment of TDS.
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