I have income as remuneration and interest from three partnership firms what expenses of deduction should i claim in itr 3?
i have given interest on unsecured loans in huge amount, can i claim this as expense?
GITA RAYATATHA (STUDENT) (98 Points)
27 December 2013I have income as remuneration and interest from three partnership firms what expenses of deduction should i claim in itr 3?
i have given interest on unsecured loans in huge amount, can i claim this as expense?
CA Prithvi Raj
(Chartered Accountant)
(87 Points)
Replied 27 December 2013
Yes. You can claim deduction, provided you have borrowed for investing in Partnership.