Interest paid yearly year can allowed
BISWAJIT (service) (179 Points)
13 March 2020
CA Naveen Chand
(Chartered Accountant)
(12734 Points)
Replied 14 March 2020
Interest paid to Bank , Financial Institutions or NBFC etc shall be allowed as deduction ONLY when it is actually PAID (SEC 43B)
BISWAJIT
(service)
(179 Points)
Replied 14 March 2020
CA Naveen Chand
(Chartered Accountant)
(12734 Points)
Replied 14 March 2020
interest, fee , penalty , cess paid under income tax Act is not allowed as deduction .
Interest in nature of penalty is not allowed