08 July 2015
if loan taken during the year is 50000 and the interest due recorded on that loan is 3000 then which amount to be reported in clause 31(a) in amount taken during the year 50000 or 53000
08 July 2015
Normally, the interest element does not fall with in the the scope of section 269SS. However, if such interest is converted into loan, aggregate of the principal and interest should be considered for reporting purposes in form 3CD.
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