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loan repayment

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(Querist)
14 February 2008 If one person taken loan for business
Repayment of principle is elgible for deduction under any section
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CA. Kirti S. Ganatra

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CA. Kirti S. Ganatra (Expert)
14 February 2008 No, It is not deductible. Only Interest is deductible
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jegannath G

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jegannath G (Expert)
14 February 2008 as said by Kirti, it is not deductible. only the interest on the such loan is deductible. That too for the interest repaid to the borrower with in the due the date of filing the return.
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