Interest on Late TDS Deposit Not Deductible as Business Expense u/s 37(1) of Income Tax Act.

Interest on Late TDS Deposit Not Deductible as Business Expense u/s 37(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=57550 Deduction of interest on late deposit of TDS under Section 37(1) - payment of interest on late deposit of tax deduction at source by the assessee leviable u/s 201 (1A) of the act is neither an expenditure only and exclusively incurred for the purpose of the business and therefore same is not allowable as deduction u/s 37 (1) - AT en-us Sat, 10 Apr 2021 09:03:34 +0530 Sat, 10 Apr 2021 09:03:34 +0530 TaxTMI RSS Generator Interest on Late TDS Deposit Not Deductible as Business Expense u/s 37(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=57550 Deduction of interest on late deposit of TDS under Section 37(1) - payment of interest on late deposit of tax deduction at source by the assessee leviable u/s 201 (1A) of the act is neither an expenditure only and exclusively incurred for the purpose of the business and therefore same is not allowable as deduction u/s 37 (1) - AT Highlights Income Tax Sat, 10 Apr 2021 09:03:34 +0530 https://www.taxtmi.com/highlights?id=57550