Interest on tds
This query is : Open
15 July 2012
Interest on TDS is allowable expenditure or Non allowable expenditure???
16 July 2012
yes it is an allowable expenditure
16 July 2012
interest paid under sec 201(1A)cannot assume the character of business expenditure and is not allowable as deduction as the liability to pay interest is directly related to the failure to deduct or remit the TDS.
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