Dissallowable expenses

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Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2012 Dear all,
Is penal interest paid to bank a dis allowable expense??

Dintakurthi Tirumala (Expert)
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06 December 2012 It is not disallowed expenditure. Because of it is not related to any violation of law.

OM SAI SRI SAI JAI JAI SAI

Pankaj Gupta (Expert)
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06 December 2012 Yes it will not be disallowed , as it is not for infraction of any law.

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