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Deduction

This query is : Resolved 
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(Querist)
04 December 2015 Hello this is Jeevan !! my cousin is planning to purchase Bike on cash .If he goes for loan on bike any tax benift he is entitled ???
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
05 December 2015 No tax benefit whether purchased by taking loan or using cash in hand. However, if the price of the bike is big, then loan will be beneficial, as the loan can shown as a source for purchase of the bike.
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CA CS Jainam Shah

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CA CS Jainam Shah (Expert)
05 December 2015 No tax benefit in bike purchase whether purchased by taking loan or by cash.
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