its urgent please.....
This query is : Resolved
CA Saroj Kumar
(Querist)
22 April 2011
sir
whether the exemption will be available under under Income Tax Act for 'interest on loan' taken from (not being a financial institution, bank or any authorized or approved loan provider)a private person for business purpose. ?
Please clarify in brief with provision of income tax.
(not give a general answer)
whether the exemption will be available under under Income Tax Act for 'interest on loan' taken from (not being a financial institution, bank or any authorized or approved loan provider)a private person for business purpose. ?
Please clarify in brief with provision of income tax.
(not give a general answer)
CA Navin Jain
(Expert)
22 April 2011
interest on loan taken from private person would be allowed under sec 36(1)(iii)
CA Saroj Kumar
(Querist)
22 April 2011
thankx a lot sir....
for being a part of my query.
for being a part of my query.
taxindiaconnect
(Expert)
25 April 2011
Agreed with Navin
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