06 April 2024
DEAR SIR My frend purchase a commercial building rs 4crore and take a loan from bank. He also has a partnership firm And if there is a lot of interest on the loan, then he should buy the property in a partnership firm or as an individual so that he can get the benefit of interest. interest is high. How can there be benefit from interest?
06 April 2024
not a straight forward answer and shall depend on the taxable income in invidiual capacity and partnership firm as well as if there is any difference in the interest rate if the loan is taken in a partnership firm.
CAclubindia
