https://www.taxtmi.com/circulars?id=10364 Interest that a company is statutorily obliged to pay on dividends deferred under the amendment constitutes an essential business expenditure deductible in computing profits and gains of business or profession; present liability payable in future instalments does not affect its allowability, and exclusion of the instalments from a separate statutory provision does not alter deductibility. en-us Fri, 05 Sep 1975 00:00:00 +0530 Fri, 17 Jun 2011 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10364 Interest that a company is statutorily obliged to pay on dividends deferred under the amendment constitutes an essential business expenditure deductible in computing profits and gains of business or profession; present liability payable in future instalments does not affect its allowability, and exclusion of the instalments from a separate statutory provision does not alter deductibility. Circulars Income Tax Fri, 05 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10364