Easy Office
Easy Office

deductibilty of intt. on personal loan

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 October 2008 a partner of firm takes loan @10%p.a
and invest it into partnership firm as
capital and receive intt. @ 3% p.a. on it.
whether interst paid on loan deductible or not.
Profile Image

Jitender

Profile Image

Jitender (Expert)
10 October 2008 yes, becz remuneration from firm is business income & intt paid is business exp.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links