Which section for deduction of principal amt of loan under h
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2013
Partnership firm can claim deducation of principal Repayment of loan against purchased property, if yes under which section.
06 April 2013
Deduction is available only in respect of the interest amount.
The principal amount is capitalised in the books and depreciation u/s 32 shall be allowed on such principal amount.
The principal amount is capitalised in the books and depreciation u/s 32 shall be allowed on such principal amount.
27 May 2013
The expert is right. The deduction which you are talking is available to only Individuals and HUF etc and not to the firm or companies.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- Gst Sales of FY 2023-24
- RCM - commercial rent paid to URP under GST
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- My Last working day in current org is in novemebr 2024 but they are asking me to submit IT proof
- Indexation benefit applicability
- SEC 54 OF IT ACT
- Passed group 2 exams under wrong gender
- REQUIREMENT OF 15CB
- QUERY FOR RCM ON RENT
- APPEAL-CIT
- Payable outstanding for years disallowance
- Whether still royalty
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
