https://www.taxtmi.com/article/detailed?id=12418 Allowability of interest on delayed TDS depends on the ordinary tests for business deductions and disallowance rules. Interest for late remittance is often regarded as compensatory and deductible if incurred wholly and exclusively for business, whereas a contrary view treats such interest as tax-related and not a business expense. Authorities have diverged and a recent tribunal decision ruled against the taxpayer, leaving the issue unsettled. en-us Wed, 13 Mar 2024 08:44:01 +0530 Wed, 13 Mar 2024 08:44:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12418 Allowability of interest on delayed TDS depends on the ordinary tests for business deductions and disallowance rules. Interest for late remittance is often regarded as compensatory and deductible if incurred wholly and exclusively for business, whereas a contrary view treats such interest as tax-related and not a business expense. Authorities have diverged and a recent tribunal decision ruled against the taxpayer, leaving the issue unsettled. Articles Income Tax Wed, 13 Mar 2024 08:44:01 +0530 https://www.taxtmi.com/article/detailed?id=12418