Interest on Advance Tax

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Interest on Advance Tax
Query (Issue) Started By: - JAIPRAKASH RUIA Dated:- 5-1-2018 Last Reply Date:- 6-1-2018 Income Tax
Got 3 Replies
Income Tax
Dear Sir, Whether Interest paid on ins .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... talment of advance tax, and self- assessment tax is a finance cost. Is the same allowed as business expenditure ? What are relevant section and rules ? Reply By MARIAPPAN GOVINDARAJAN: The Reply: I .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n my view it will not be allowed as business expenditure. Reply By JAIPRAKASH RUIA: The Reply: But sir, saction 40 (a) (ii) talk only about rates or taxes and as per definition of, Interest u/s 234 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... A , B C not part of that. Reply By Ganeshan Kalyani: The Reply: It is not a business expenditure.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X