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Interest on loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 December 2009 Loan has been taken in previous year but the interest is paid in next year. Whether it would be diallowed as prior period Expenses.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
01 December 2009 when you pay interest on Loan you can take benefit in that relevant yr.

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