Whether intt. on late payment of excise duty, is disallowed?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2011
Pease suggest whether interest paid for late payment of Excise Duty & Land Lease premium to State Govt. will be disallowed under IT Act.

Whether such Intt. payment require to report in 3CD??? If yes then in which clause it will fall????

Please reply soon

Very Good evening

Preety Parik

Preety Parik (Expert)
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18 September 2011 Interest on late payment of excise duty and lease rental is eligible deduction and should not be disallowed.