Interest Payment on delay of Taxes (Direct & Indirect)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2010
Wheather Interest paid on delayed payment of service tax is admisible expenditure as per the income tax act
26 February 2010
Yes interest payable under indirect taxes allowable. Interest paid on direct taxes not allowable as deduction
02 March 2010
only interest paid under Indirect taxes is allow as deduction.
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