In which head income consider
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2013
1. i am businessman . i took loan & invest it So i paid interest to those from i took loan & received interest from those i gave loan. i claim my interest expesnes under business head & income under other sources.
is it correct or no ???/
2. in particular year i haven't receive any interest income so under other sources head no income shown but i paid interest so claim ineterst exp. under business head.
is it correct or no ???
in 2 nd case 14A can applicable or not ????
is it correct or no ???/
2. in particular year i haven't receive any interest income so under other sources head no income shown but i paid interest so claim ineterst exp. under business head.
is it correct or no ???
in 2 nd case 14A can applicable or not ????
02 April 2013
Your Solutions are:
1. You can't do so. Both Income and expenses should be match under same head.
2. Again you cant't do so.
1. You can't do so. Both Income and expenses should be match under same head.
2. Again you cant't do so.
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2013
thanks sir.
if income from interest i show in business head then as consider 2 nd case interest payment made but income not receive then deduction possible or not ??? is 14A apply???
if income from interest i show in business head then as consider 2 nd case interest payment made but income not receive then deduction possible or not ??? is 14A apply???
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
- Tax on Deemed Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- NRI INSURANCE ADVISOR
- Difff in ais receipts and gst turnover
- ITR-Capital Gain
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- LIABILITY ADJUSTMENT
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
