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234A,B,C

Others 711 views 1 replies

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  

Replies (1)

no its not allowed as an expense as it is not related to one's business/profession..or even in IOS its not allowed.


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