Corporate tax on interest
This query is : Resolved
20 September 2017
Can interest expense be claimed as deduction against interest income?
If the amount so borrowed by the Pvt. Ltd. company is invested in Debt MF (a part/partially)?
Thanks for the Help!!!
If the amount so borrowed by the Pvt. Ltd. company is invested in Debt MF (a part/partially)?
Thanks for the Help!!!
Amol S Joglekar
(Expert)
20 September 2017
interest paid in order to earn interest is deductible.
But in your case, it seems, you have invested in debt MF by borrowing money. I dont think this interest is deductible
But in your case, it seems, you have invested in debt MF by borrowing money. I dont think this interest is deductible
21 September 2017
Interest expense can't be deducted. Inference - [2001] 248 ITR 449 (SC).
Message likes :
1 times
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
