Interest deduction in income tax

Who said interest on vehicle loan is tax deductible? Its not friend. Sorry to say, your concepts are incorrect.

Int on vehicle Loan used for Biz/official  purpose is Biz expenses.

You cannot  show it now.

Thanks,

But I still want to know that is it deductible under Head PGBP when vehicle is used for business purpose

In case you are a professional or a business man declaring income under the head profits or gains from business or profession then the interest on car loan and depreciation could be utilised. However, in case you are a salaried individual then you would not get any deduction on this account.

But in the same year when you have paid.

Sorry for the earlier opinion. I was under the impression you were claiming it otherwise than PGBP.

Even in PGBP, the interest expense pertained to those specific years and had to be claimed in those years only. you may only claim that portion of interest as pertains to FY 2014-15 in AY 2015-16.