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interest payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 December 2010 kindly let me know whether interest payment on shares is an allowable expenditure or not?? He gets dividend on the shares and he holds the shares as investment
His main business is brokerage
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
02 January 2011 Yes interest is allowed as expenditure.

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