Loan taken for payment of interest and penalty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 March 2016
interest on loan taken for payment of interest and penalty of service tax , whether interest apyable is allowable as per income tax act, if allowable please mention Circular or case law please mention.
07 March 2016
Dear
The interest amount on loan will be disallowed under income tax act.
The interest amount on loan will be disallowed under income tax act.
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