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T.D.S. & Service Tax

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28 August 2009 Disallowance of Interest on TDS & Interest on Service Tax in computation of business Income. Why? under which section?
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chetan soni

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chetan soni (Expert)
28 August 2009 No interest on late payment of tds & service tax is allowed expenditure.

Only penal interest & penalty is not allowed as deduction. Penal interest means interest imposed by the assessing officer at the time of assessment.

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