Provision for expense
This query is : Open
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
14 February 2021
Yes, you can do it but it's not an allowable deduction under income tax.
14 February 2021
You can but interest is disallowed under Income Tax Act.
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