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Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Levy of interest tax on interest under Interest Tax Act, 1974 - ...


Court Rules Finance Charges as Interest, Subject to Interest Tax Under Interest Tax Act, 1974.

December 18, 2013

Case Laws     Income Tax     HC

Levy of interest tax on interest under Interest Tax Act, 1974 - the transactins entered by the respondent assessee with the customer/hirer is a loan transaction and the finance charges were nothing but interest. - Decided against the assessee. - HC

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