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Interest on Incometax

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(Querist)
14 February 2011 Interest on incometax/sales tax is allowable in incometax?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 February 2011 Interest on income tax is not an allowable expenditure for the purpose of income tax computation. Whereas interest on VAT is allowable.
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C.A.Javid Patel

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C.A.Javid Patel (Expert)
14 February 2011 yes correct
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