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Treatment of interest paid u/s 234 b & c for tax computatio

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(Querist)
19 August 2014 There is a partnership firm which has paid interest U/s 234B & C for the A.Y 13-14 during A.Y 14-15. What will be the treatment for the payment of interest for computation of tax?? Where it will be reflected in the final accounts??
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Rupesh Jain

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Rupesh Jain (Expert)
19 August 2014 it is debit to partner capital a/c
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
19 August 2014 you may write off as expenses................
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Priti Goel

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Priti Goel (Querist)
19 August 2014 how it can be written off as expense.....is it allowable???
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CA P K AGRAWAL

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CA P K AGRAWAL (Expert)
22 August 2014 no, not allowed, rupesh is right
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CA P K AGRAWAL

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CA P K AGRAWAL (Expert)
22 August 2014 Mr. Umesh how u can say that??

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