Deduction of unpaid loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2013
Can time barred loan be taken as income tax deduction? i.e. loan given but defaulted by borrower...
17 February 2013
If providing loan is the core business activity then only deduction can be claimed.
.
If the assessee has given interest free loan or to earn interest on the spare amount, he is not entitled to claim it as an expense.
.
.
If the assessee has given interest free loan or to earn interest on the spare amount, he is not entitled to claim it as an expense.
.
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
- Section 270A penalty
- GST- DRC 03 RCM Liability
- Query on managerial remuneration u/s 197 of CA 2013
- GSTR 1- Amend Credit Note
- Validity of form 15 G and 15 H on Interest on fixed deposit
- Threshold limit of under GST for insurance agent
- Supply to unit situated in SEZ
- Tax liability on gift amount given to blood relation
- Additional income for updated return
- TDS AFTER SUBMISSION OF 15G OR H
- Refund for NRI
- Gst registration rule 14A
- Tax on withdrawal of Employee Provident Fund
- Query on solved queries
- GST Registration Application -Rejected
- Problem in filing Returns for International workers in EPFO
- Clarification for reversal of IGST on transfer of duty-free imported goods from EOU to DTA unit
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
