Interest paid by individuals

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princi (Querist)
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03 September 2015 whether interest paid by individual on loan taken for business or personal purpose is allowed as expense or not while calculating his taxable income.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 September 2015 Interest on loan taken for business is allowed for personal purpose it is not allowed.

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Interest paid by individuals

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