Deduction for interest on loan
This query is : Resolved
26 June 2011
Sir,
Suppose the trust has taken the loan from Private limited company for the purpose of objects of the trust. Whether the interest can be allowed as deduction in its return of income. Please advise me along with justification and reference of section under which the said deduction can be claimed.
Suppose the trust has taken the loan from Private limited company for the purpose of objects of the trust. Whether the interest can be allowed as deduction in its return of income. Please advise me along with justification and reference of section under which the said deduction can be claimed.
26 June 2011
Interest is an allowable expenditure to the trust and will be taken into consideration while calculating the "Application" of income.
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
- Fixed asset entry in tally
- GENERATE E-INOICE IF TURNOVER EXCEED 5 CR FROM YODAY
- TDS 194IB FY 2025-2026
- Households luggage
- Taxability in hand of employee
- Updated return invalid tax paid status
- GST procedure on conversion of Partnership Firm to Pvt Ltd
- Succession act
- Central excise duty structure after 01/02/2026
- COP and Employment with CA Firm
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
- Clarification Required on GST Rate & HSN Classification – Millet-Based Probiotic Drink
- TDS Return filing if only have 15G /15H deductions and no other payments
- 80G deduction eligibility
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani -
IDT LIVE Exam Oriented Batch | May 2026, Sept 2026 & Jan 2027
CA Arpita Tulsyan
CAclubindia
