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Machine rent is buisness income

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 November 2014 My Partnership Firm have Machine rent and labour charges income. My machine rent is huge amount. And TDS deducted in 194IA.

I want deduct interest on capital from my machine rent income and labour charges income.

is this possible?

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Nikhil Kaushik

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Nikhil Kaushik (Expert)
07 November 2014 you can subject to conditions provided under section 40(b)

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