intt on late payment of service tax
This query is : Resolved
20 September 2009
why intt on late payment of service tax is not an allowable expense..where it is written under income tax act..even though it is not a personal tax like income tax or wealth tax...
20 September 2009
Under Section 37 of IT Act, 1961, you can claim. its alloable
21 September 2009
ofcourse its allowable u/s 37(1) , when service tax is allowed , interest has to be allowed , assuming its compensatory and not penal.
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