Easy Office
LCI Learning

Interest Paid on Defaulted Interest allowed or disallowed in PGBP

This query is : Resolved 

28 December 2023 ABC Ltd Outstanding interest of Rs.5 Lacs converted into Loan of 5 Lacs or Debentures of 5 Lacs.
Does interest paid on above 5 Lacs loan or 5Lacs Debentures (which is a interest converted loan/ Interest converted into debentures), allowed a business expenditure for Income Tax Purpose?.

28 December 2023 Yes, such interest payment is allowed as business expenditure for income tax.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries