Income tax

This query is : Resolved 

30 October 2007 I have subscribed for a Chit of Rs 100000/
I have participate in bid and succeed in draw.I received cash of Rs 80000/after deducting premium of Rs20000(chit Kasar)

I utilised that amount to construct the house.Can I claim that chit kasar as interest under head HP income?

30 October 2007 pl.inform me

31 October 2007 no, you can not.


31 October 2007 no, you can not.



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