In which head income consider
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2013
1. i am businessman . i took loan & invest it So i paid interest to those from i took loan & received interest from those i gave loan. i claim my interest expesnes under business head & income under other sources.
is it correct or no ???/
2. in particular year i haven't receive any interest income so under other sources head no income shown but i paid interest so claim ineterst exp. under business head.
is it correct or no ???
in 2 nd case 14A can applicable or not ????
is it correct or no ???/
2. in particular year i haven't receive any interest income so under other sources head no income shown but i paid interest so claim ineterst exp. under business head.
is it correct or no ???
in 2 nd case 14A can applicable or not ????
02 April 2013
Your Solutions are:
1. You can't do so. Both Income and expenses should be match under same head.
2. Again you cant't do so.
1. You can't do so. Both Income and expenses should be match under same head.
2. Again you cant't do so.
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2013
thanks sir.
if income from interest i show in business head then as consider 2 nd case interest payment made but income not receive then deduction possible or not ??? is 14A apply???
if income from interest i show in business head then as consider 2 nd case interest payment made but income not receive then deduction possible or not ??? is 14A apply???
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