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Interest on TDS is Allwoed or not

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6 Points Joined July 2018
as per section 37 of Income Tax Act interest on TDS and late fees on return filing of TDS return allowable expenditure or not in the business head
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On 01 June 2022 at 17:57 Report
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CA
10436 Points Joined March 2019
Not allowable
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On 01 June 2022 at 18:46
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CFO- at NHTF
58280 Points Joined August 2012
Amount paid for violation of law is disallowed under income tax act
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On 01 June 2022 at 20:03
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Profession Business
28196 Points Joined May 2017
So it's not violation but a penalty fees, a sort of income for the dept.
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On 04 June 2022 at 02:05
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CFO- at NHTF
58280 Points Joined August 2012
Late payment and late filing of tds are violation of law only.
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On 04 June 2022 at 08:13
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Profession Business
28196 Points Joined May 2017
Why penalty is imposed because it restricts the assesse to delay in filing of returns , it also helps in disposal of notice in the right manner. So it's a minor violation.If it a gross violation then there are instances to deal with it
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On 07 June 2022 at 10:52

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