Bare ActsInterest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993

Section 9

Interest not to be allowed as deduction from income

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Notwithstanding anything contained in the Income-tax Act, 1961 (Act 43 of 1961), the amount of interest payable or paid by any buyer, under or in accordance with the provisions of this Act, shall not, for the purposes of computation of income under the Income-tax Act, 1961, be allowed as deduction.

Section 9 – Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 | DailyLaw.ai