08 December 2018
Due to late payment of ITDS (paid after 31.03.18), I had to pay Interest on TDS payment for AY 2018-19. Whether I should debit the interest paid to Profit and Loss account of 31.03.18 or should I debit the same next year ?
09 December 2018
Debit the same to profit/loss of year ending on 31.03.2018 and stand it as payable along with TDS amount..the amount debited will be disallowed in computation of income..
CAclubindia
