| Discussions Forum | ||||||
Home  Forum Income Tax This
|
||||||
| A Public Forum. Anyone can participate to share knowledge. |
||||||
|---|---|---|---|---|---|---|
| We acknowledge the contributions of Experts/ Authors. | ||||||
Submit new Issue / Query |
||||||
Interest on Advance Tax, Income Tax |
||||||
|
||||||
Interest on Advance Tax |
||||||
Dear Sir, Whether Interest paid on instalment of advance tax, and self- assessment tax is a finance cost. Is the same allowed as business expenditure ? What are relevant section and rules ? Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
In my view it will not be allowed as business expenditure.
But sir, saction 40 (a) (ii) talk only about rates or taxes and as per definition of, Interest u/s 234 A , B C not part of that.
It is not a business expenditure. Page: 1 Old Query - New Comments are closed. |
||||||
