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Disallownace under section 43b

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2013 Dear Sir,

A PSU is taking loan from Govt. and making provision for interest. PSU is not paying any interest to Govt from several years but only making provisions....

My question is whether this interest is an allowable expenses under income tax .......

Your guidance is valuable....
please suggest...

Thanks in advance.....
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Nikhil Kaushik online

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Nikhil Kaushik online (Expert)
21 September 2013 Yes. the same shall be disallowed under 43b(c)
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Ashwani Narnoli

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Ashwani Narnoli (Expert)
21 September 2013 Yes the same shall be disallowed.
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