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Deduction of exp

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 July 2012 Sir, one of my client has paid the interest on loan taken from his wife, weather it can be allowed as business exp. as the loan was utilised for business, his accounts are subject to tax audit

pl clarify
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Guest

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Guest (Expert)
27 July 2012 Yes Interest on loan is allowable.
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Sanket

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Sanket (Expert)
28 July 2012 yes u can take deduction of interest n loan.....
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SANYAM ARORA

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SANYAM ARORA (Expert)
28 July 2012 Yes you can take the advantage
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