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INTEREST ON LOAN against commercial property
I would like to know whether interest on loan taken against commercial property which is occupied for business purpose is allowed as business expense or no?
Replies (2)
Yes, provided the loan amount is utilized for business purpose...
I would like to add one more point to Mr Dhiraj sir's reply..
the interest amount should've been paid during the previous year
the interest amount should've been paid during the previous year
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