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Interest on tds

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(Querist)
15 July 2012 Interest on TDS is allowable expenditure or Non allowable expenditure???
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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
16 July 2012 yes it is an allowable expenditure
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shakti soni

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shakti soni (Expert)
16 July 2012 interest paid under sec 201(1A)cannot assume the character of business expenditure and is not allowable as deduction as the liability to pay interest is directly related to the failure to deduct or remit the TDS.
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