Interest on c.c.
This query is : Resolved
10 July 2014
i want to take cash credit facility from the bank regarding for the business,
so whether interest of such cash credit would be allowable in my manufacturing business of furniture.
pls mention under which section such interest is allowable under income tax Act-1961.
so whether interest of such cash credit would be allowable in my manufacturing business of furniture.
pls mention under which section such interest is allowable under income tax Act-1961.
10 July 2014
Yes, Interest on CC is allowable
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