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Income Tax - Highlights / Catch Notes

Home Highlights May 2020 Year 2020 This

Payment of interest for delay in payment of agricultural income ...

Income Tax

May 27, 2020

Payment of interest for delay in payment of agricultural income tax - the interest paid is having direct nexus with agricultural income which is exempt from tax u/s 10(1). Therefore, such payment of interest cannot be allowed u/s 36(1)(iii) also.

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