Interest paid in excess
This query is : Resolved
07 January 2012
What are the possible consequnces when interest paid in excess to depositors covered u/s 40A(2)(b)?
07 January 2012
In case the excess amt of interest paid can be substantiated with the "business interest" or "fund requirement" or long term availability assurances, the excess over normal may not be disallowed.
.
If excess is really excessive and is felt so also on the business, it will be disallowed to the extent it exceeds. Entire amount will not be disallowed.
.
.
If excess is really excessive and is felt so also on the business, it will be disallowed to the extent it exceeds. Entire amount will not be disallowed.
.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- PAN Migration to New AO
- Tax implications of gift to maternal uncle
- How to open attachment in 23ac xbrl
- Input Tax Credit Puf panels
- Gifts in cash
- Excess TDS Paid - Form 26QC
- Capital gains LTCG
- 26QB correction - no data available error for fully consumed/processed with default
- TDS on Purchase of Immovable Property in case of Co Owner
- Demand due to error in 3cd
- Unlisted share purchased that time the share was unlisted
- About AIS Report
- EBRC Generation
- AS-16 Treatment of Borrowing cost for land and building
- HSN Wise Summary Reporting in GSTR-1
- TDS on Payment to Non-Resident by Resident Foreign Entity
- HOW TO CALCULATE FOOD CHARGES
- Travel Agent Charges 5 GST without ITC. Can he raise invoice18 on Service Fee for Flight Tick
- Income tax planning
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
