Deduction of interest on tds, vat, Service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2011
Can a company claim deduction of interest paid due to late payment of TDS (which we have deducted from deductee). IS it a allowable expenditure?
31 January 2011
1. Interest on Late payment of Vat & service Tax allowed as business expenses.
2. Interest on income Tax is disallowed while computing the Business Income.
2. Interest on income Tax is disallowed while computing the Business Income.
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