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interest expenses not paid on cash credit

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(Querist)
16 July 2010 if interest on CC remained un paid
is it admissable expenses or not? 43B disallowance applies for it or not

please guide me
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CA Robin Betala

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CA Robin Betala (Expert)
16 July 2010 Yes interest on overdraft / CC limit are now hit by section 43 B and only allowable when paid
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Srikant

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Srikant (Expert)
16 July 2010 Interest expense is allowable as deduction on payment basis vide Section 43B.
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Rasesh

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Rasesh (Expert)
16 July 2010 Agree with experts.

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