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Cash credit limit against term deposit

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2015 i am running my own business . i want to avail cash credit limit against fixed deposit . my query-
can i show the interest as expenditure of business ? can i get tax benefit of interest of above ac ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
01 April 2015 you can claim as interest on cc in the business since you have taken the CC for business purpose

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