can u pls provide whether e these are disallowble under the act.
1..Interest paid on TDS
2..late fees paid for tds filing
3..Gst late fees..
4..interest paid on Gst
5..interest paid on late payment of ESIC
As per section 37 of income tax Interest Under Direct tax is disallowed ie.1,2 &5
Interest or late fee under indirect tax is allowed i.e 3+5
however penalty under both direct and indirect tax is disallowed
CAclubindia
