80c and 24b for companies
This query is : Resolved
Eswar Reddy S
(Querist)
16 June 2014
Can any body tell me , whether a company can avail deduction under sections 80c and 24b , if it has taken loan for construction of branch office?
Nikhil Kaushik
(Expert)
17 June 2014
do you even read income-tax act.
branch office would amount to place being used for own business...accordingly the same wont be covered under "income from house property" please refer section 23
section 80C is not applicable to companies!!
branch office would amount to place being used for own business...accordingly the same wont be covered under "income from house property" please refer section 23
section 80C is not applicable to companies!!
Rupesh Jain
(Expert)
17 June 2014
section 80C no applicable to company.
and intt for building can claim under the head income from business and profession income.
and intt for building can claim under the head income from business and profession income.
17 June 2014
sec 80 C & sec 24b is not applicable to co + co can claim int as business exp under income from business as its for branch office.
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