interst u/s 234D

[hubert fernandes]

Whether interest paid u/s 234D of the Income Tax Act is a allowable deduction

[Kapil Jain]

Dear Hubert Fernandes,

Interest paid related to Direct tax is not allowed. So interest paid u/s 234D of the income tax act is not allowable deduction.

AI Summary

Interest under section 234D is not deductible and must be excluded from taxable income calculations. Interest paid under section 234D of the Income Tax Act, being interest in respect of direct taxes, is not an allowable deduction and must be disallowed when computing taxable income.