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Interest u/s 43B PGBP

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374 Points Posted on 21 May 2019
Interest liability in PY18-19= 2,00,000

Above interest is paid on 4th June 2020.

Will this interest be allowed as exp and in which PY?
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On 21 May 2019 at 20:02 Report
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7558 Points Posted on 21 May 2019
yes for ay 2919-20 relevant to py 31.03.19
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On 21 May 2019 at 20:09
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374 Points Posted on 21 May 2019
Shouldn't this exp be disallowed for AY 2019-20
Since its not paid within 31st July 2019?

Would it be allowed in AY19-20?
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On 21 May 2019 at 21:00
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609 Points Posted on 21 May 2019
as the payment will be made after the due date of filing the return, the interest expense will be disallowed in a.y 2019-2020 and will be allowed in the p.y in which actual payment is made i.e p.y 2020-2021 A.y 2021-2022
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On 21 May 2019 at 21:13
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374 Points Posted on 21 May 2019
Okay thanks alot🖒😊
3 Reply
On 21 May 2019 at 22:26


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