Allowed or not
This query is : Resolved
06 June 2013
loan borrowed for agri purpose whether to capitalise or treat as expense
14 June 2013
Need to treat as expenses
15 June 2013
but that interest paid for that loan can be set off with other income?
15 June 2013
Since agricultural income is not taxable, so interest on that purpose cannot be adjusted with other income. my view
17 June 2013
if land is sold but loan is still o/s whats the treaatment
17 June 2013
Unless the business income & House property income , no other income has the facility to claim the interest on loan as deduction. so even you are sold the land, the interest paid on the loan is not eligible to claim in any income
18 June 2013
i have business income so I can set off from that
18 June 2013
Any expenses which is related to the particular income can be claimed. if you can justify the A.O, interest paid against agriculture loan is you business expenses, then you can claim
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
