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Querist : Anonymous

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Querist : Anonymous (Querist)
07 October 2015 Dear experts,
A proprietary concern has buy car on loan nemed in proprietor, plz let me know can this proprietary firm avail exemption of interest and principal amount,
Regard
Karan sharma
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
07 October 2015 What kind of exemption of interest and principal you are talking about. On car loan there are no such exemptions. Income tax benefits are available only in respect of home loan interest and principal.

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