Delay Payment Interest on TDS Payment , VAT and Service Tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2010 Wheher delay payment interest payment made for delays in deposit of TDS, VAT and Service Tax will be allowed as an expenses or not ?

07 April 2010 only penalties are disaalowed under Income Tax Act



07 April 2010 I THINK IT IS DISALLOWED.
LET OTHER EXPERTS GIVE THEIR VIEW.

07 April 2010 AS PER MY OPINION INTEREST ON DELAY PAYMENT OF TDS/SERVICE TAX IS NOT DISALLOWED.

07 April 2010 it will disallowed for sure..

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 April 2010 Kindly quote the relavant sections so that we can cross check it , my tax consiultants says in general that it shpuld be allowed .It good for all of us if we are getting clarity

08 April 2010 FOR THIS CHECK SEC 37 WITH CASE LAWS


08 April 2010 interest is allowed

10 April 2010 Interest paid on any delay of direct taxes is not allowable whereas interest paid on any delay of indirect taxes is allowable.



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