234A,B,C

HASIQ ISMAIL (PURSUING CA FINAL ) (110 Points)

08 March 2011  

Dear Friends

            In the Income Tax Act u/s 234A,234B and234C Interest  has been levied for Non Filing of return with in th due date, Non payment of advance tax and  Non payment of 90% of advance tax respectively. Is this allowable as expenses as per Income tax Act or it is penal interest should not allow. Please clarify