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Whether deduction allowed or not ?

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(Querist)
12 December 2011 Dear sir
i have paid penalty for late payment of tractor loan interst. ie int on int .whether deduction allowed or not ?
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Kapil Gupta

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Kapil Gupta (Expert)
12 December 2011 Yes interest on delayed payment is allowed under section section 37 (1)
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anurag

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anurag (Expert)
12 December 2011 Agree with the expert.
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