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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- GSTR9 Annual Return
- Employee secondment
- Gift to nri relatives resides in usa
- Applicability of tax on invoice
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- GST ITC as per notification 12/2023- central tax
- Form 144 TDS Return Validation error
- Form 144 TDS Return Validation Error – Mandatory Fields
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
