Education loan
This query is : Resolved
03 January 2015
I had taken Education Loan from Bank for which interest has accured but has not been Repaid till March 2013, So What Will be the treatment of the Interest - whether it will shown in balance sheet so that deduction can be claimed u/s 80E in March 2014 Return. or as expense is to written off in income & expenditure account.
Tell me the treatment of Interest accured on loan acoount whether to be shown in income & exp acc or Balance sheet and its traetment
Tell me the treatment of Interest accured on loan acoount whether to be shown in income & exp acc or Balance sheet and its traetment
03 January 2015
Choice is with you....you can either claim it as revenue expenditure ...(By the way... what is your business?)
else can claim under 80E
else can claim under 80E
03 January 2015
Tell me the Treatment of the Interest Accured as it is not paid so deduction cannot be claimed u/s 80e
05 January 2015
Interest accrued on education loan has no place in Income Tax.
For busines....you can route the same through Capital A/c of proprietor Or Partners as the case may be
For busines....you can route the same through Capital A/c of proprietor Or Partners as the case may be
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