Dear Sir,
Pls clarify , Interset paid u/s 234 is allowable or not . Suppose , if it is allowable , the Co. failed to show it as exp during the year the tax and int has been remitted .What 'll be the consequence ?
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Interest u/s 234
Replies (2)
not allowable as business expenditure
Interest paid for delay in filing return of income shall not be allowed as a business expenditure.
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