is this deducted interest paid on money barrowed for purchasing of shares ,
and expanditure incurred for the activity of owning and maintainance of race horses..
kindly reply the soon thanks in advance ...
chaitra (inside sales) (48 Points)
18 February 2013is this deducted interest paid on money barrowed for purchasing of shares ,
and expanditure incurred for the activity of owning and maintainance of race horses..
kindly reply the soon thanks in advance ...
sans9x CA,CMA,CS
(general manager )
(46 Points)
Replied 18 February 2013
yes you can claim expenditure on horse races...for detailed discussion refer 74A of the IT act 1961.,
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