Can u please tell me the allawance or disallowance of expense in the following case.
If there is delay in deduction of TDS which resulted in delayed payment also which attracts interest on TDS.
If the assessee has paid TDS amt. but has not charged & paid interest on the same, then the expenses on which TDS has deducted is allowed as deduction in the P. Y. or not?
29 July 2010
interest on tds ill not be allowed. but expences on which tds has been paid will be allowable exp. It does not matter wheather you have charged interest on tds regarding allowability of exp.
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