Deduction
This query is : Resolved
04 December 2015
Hello this is Jeevan !! my cousin is planning to purchase Bike on cash .If he goes for loan on bike any tax benift he is entitled ???
05 December 2015
No tax benefit whether purchased by taking loan or using cash in hand. However, if the price of the bike is big, then loan will be beneficial, as the loan can shown as a source for purchase of the bike.
05 December 2015
No tax benefit in bike purchase whether purchased by taking loan or by cash.
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