Interest paid on TDS
GUDIMETLA VINODKUMAR (123) (11 Points)
13 July 2020
is interest paid on TDS allowed??
3 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 14 July 2020
Your query is not cleared...
Can You elaborate with more details...?
Can You elaborate with more details...?
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 14 July 2020
DCIT Vs M/s. Rungta Mines Ltd (ITAT Kolkata)
Conclusion: Interest expenses claimed by assessee on account of delayed deposit of TDS liability was allowable under section 37(1) as the TDS amount did not represent the tax of assessee but it was the tax of the party which had been paid by assessee
Conclusion: Interest expenses claimed by assessee on account of delayed deposit of TDS liability was allowable under section 37(1) as the TDS amount did not represent the tax of assessee but it was the tax of the party which had been paid by assessee
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 18 July 2020
Yes, interests paid on delay payment of TDS is allowed as expenses.
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
