Interest on Delayed TDS/TCS Payment Not Disallowable Expense u/s 40(a)(ii) of Income Tax Act.

Addition on account of interest paid on delayed payment of TDS/TCS - the interest on delayed payment of TDS/TCS cannot be considered to be a payment towards any rate or tax levied on the profit or gains of any business or profession as provided u/s. 40 (a)(ii) of the Act. - AT .....

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