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).
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