Can u tell me if we invest a Rs.5 Lac in real estate for property purchase.The term says we have to pay rs 5 Lac to Real Estate Agent & pay a cheque of Rs. 25 Lac through Bank Loan,the company wil gave a possession after 3 yrs.
And the agent says we have to pay rs.25000/- to you as a interest.so my question is can we show the above interest recd from agent as a other sources of income & the defference between intrest recd from agent & interest paid to bank
so pls clearify the above
Guest
Guest
(Expert)
18 January 2011
You can set off the interest received from agent against the interest paid to bank
CAclubindia
