Can deductible interests paid on late payment to creditors

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LALIT NARAYAN DHUMAL (Querist)
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07 October 2017 Sir
Weather expenditure deductible from business income as interests paid on late payment to sundry creditors.

RAJA P M (Expert)
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07 October 2017 Yes... You can show it...

CA Rashmi Gandhi (Expert)
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08 October 2017 Same is allowed expense u/s 37 of IT Act because it os used for business purpose.

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