Is tds applicable on moratorium interest ? (Interest not paid by us due to moratorium)
We book every month interest amount in account books.
Allowable expenses or not ?
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Quick Summary
This discussion clarifies whether Tax Deducted at Source (TDS) is applicable on interest amounts that are booked in accounts but not actually paid due to a moratorium. Experts confirm that TDS is generally applicable on interest provided, even if not paid. The conversation also touches upon the deductibility of such interest as a business expense under income tax laws, with a mention of relevant notifications.