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Regarding admissibility of int on service tax

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(Querist)
26 August 2009 Sir,
Please tell me whether the 'Interest on service tax' is admissible as expense in computing Income tax!!!... Kindly reply at the earliest.. Thanks in advance!!!
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CA.Hanumantha Reddy

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CA.Hanumantha Reddy (Expert)
26 August 2009 No, it is not admissible.
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Jitender

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Jitender (Expert)
26 August 2009 yes, it is admissible .

it is inadmissible only when it is of penal nature.
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CA. Savitha vijayan

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CA. Savitha vijayan (Querist)
26 August 2009 I,m geting contrasting views... please make it clear...
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chetan soni

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chetan soni (Expert)
27 August 2009 yes, it is allowed expenditure.

Only penal interest & penalty is not allowed.

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