I have a query reqarding classification of interest paid on late payment of TDS as the same will be classified as Finance Cost or it will be classified as other expenses?
As per Schedule III of Companies Act, 2013 interest Expenses should be classified as Finance Cost but what should be included in that it is not clear.
Please answer the same.
CAclubindia Online Learning offers a wide variety of online classes and video lectures for various professional courses such as CA, CS, CMA, CISA as well as various certification courses on GST, Transfer Pricing, International Taxation, Excel, Tally, FM, Ind AS and more.
Your are not logged in . Please login to post replies
Click here to Login / Register
view more »
Set Content Preference
Our Network Sites
Download CAclubindia App
Alternatively, you can log in using:
Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.