Deduction of interest on tax
This query is : Resolved
29 January 2015
whether deduction of interest on tax is allowed u/s 37 ??
30 January 2015
Supreme Court’s decision in the case of Bharat Commerce and Industries Ltd Interest on delayed payment of tax should also not be allowed under Section 37(1) of the Act as in the said case it was held that the interest payment for failure to pay advance tax and
delay in filling of income tax return was not allowed under Section 37(1) of the Act
delay in filling of income tax return was not allowed under Section 37(1) of the Act
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