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Deduction or expens to be claimed in case of partner of firm

Tax planning 444 views 1 replies

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?

 

Replies (1)

Yes. You can claim deduction, provided you have borrowed for investing in Partnership.


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