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Payment car loan -deduction

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 September 2013 SIRS,
I AM PAYING RS 4866 AS MONTHLY CAR LOAN INSTALMENTS.I AM A SELF EMPLOYED PROFESSIONAL .CAN I CLAIM DEDUCTION ON THE TOTAL EMI PAID BY ME PER ANNUM AS BUSINESS EXPENSES. AND UNDER WHICH SECTION.
THANKS IN ADVANCE
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
05 September 2013 Incase car is used for business purpose then the only interest portion can be claimed under business expenses.

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