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ShwetaShweta asked 12 months ago

Sir, in clause 30(b) , excess interest computed disallowed in the current year , is allowed to be carryforward for 8 A. Y., then what is the point of this clause if the excess interest paid by indian co to foreign company can be allowed in 8 A.Y?? 

1 Answers
RaviRavi Staff answered 12 months ago

if they keep paying excess, it will keep getting carried forward and ultimately lapse
if they pay more and in subsequent year they pay less this excess will be available
its fair for everyone, if they rectify themselves, they can use excess if there is shortfall

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