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Interest on loan from nbfc

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 March 2016 if a company or firm taken loan and interest on such loan not paid before filing ITR due date whether interest will be disallowed under sectioin 43 b
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Ankur Singhal

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Ankur Singhal (Expert)
05 March 2016 Dear
It is allowed on actual payment basis.
Hence it will be disallowed.
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Saket Jain

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Saket Jain (Expert)
19 March 2016 If loan taken from Scheduled Bank, Financial Institution the 43B is applicable.
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Ankur Singhal

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Ankur Singhal (Expert)
19 March 2016 Dear
It is applicable in case the loan is taken from scheduled bank.

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