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Provision for expense

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(Querist)
13 February 2021 If we know that we are liable to pay interest in income tax u/s 234a,b & c ?Can we create prov. For interest and debited to p& l
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 February 2021 Yes, you can do it but it's not an allowable deduction under income tax.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
14 February 2021 You can but interest is disallowed under Income Tax Act.
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