Interest u/s 234

A/c entries 1039 views 2 replies

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 ?

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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