Section 68

Kamal Vyas (Article Assistant) (61 Points)

29 January 2018  
If Unsecured Loans are treated as income u/s 68 by the AO then what about the interest on such loans which is actually paid by the assessed.
Can the assessed claim the deduction u/s 36(1)(iii) or u/s 37 as part of business cost ??

kindly suggest.