Allowable expenditure u/s 37(1) of income tax act
This query is : Resolved
24 August 2014
Sir,
A company whose Nature of Business is Film Production have no business in the F.Y 13-14 (No Income),but it has Expenditure i.e Interest on Loans taken by the company.Now,my Query is whether that company is Liable to allow such Finance Costs as allowable Expenditure in this F.Y 13-14 even if there is no business
A company whose Nature of Business is Film Production have no business in the F.Y 13-14 (No Income),but it has Expenditure i.e Interest on Loans taken by the company.Now,my Query is whether that company is Liable to allow such Finance Costs as allowable Expenditure in this F.Y 13-14 even if there is no business
25 August 2014
it would be allowed as long as you are able to demonstrate that the activities have not been suspended and it is only a temporary lull.
25 August 2014
it would be allowed as long as you are able to demonstrate that the activities have not been suspended and it is only a temporary lull.
10 September 2014
correctly said..............................
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