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Interest paid on borrowing used in holding of capital assets

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(Querist)
14 September 2014 Dear Sir

Amount borrowed used to acquire capital assets. interest paid on borrowing amount used to hold a capital assets.

How to take benefit of interest paid on such amount under income tax act.

thanks

CA Sanjay Singhal

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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 September 2014 It is an allowable expenditure under income tax provided it is acquired for the purpose of earning income.

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