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80c and 24b for companies

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(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?
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Nikhil Kaushik

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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!!
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Rupesh Jain

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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.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
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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