banner_ad

Income from salary

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 April 2016 A Y 16-17.X salary Rs25000 per month, TDS is deducted 5000rs, one vehicle loan given we have to claim the interest of vehicle loan deduction in his case please reply. Thanking you
Profile Image

Sandeep Garg

Profile Image

Sandeep Garg (Expert)
13 April 2016 Hi...For a salaried person, deduction of interest on vehicle loan is not allowed. As per the facts, if gross salary is only 25000 p.m. then there is no tax liability also considering the slabs and tax free allowances.
Profile Image

Murtaza I Bhagat

Profile Image

Murtaza I Bhagat (Expert)
13 April 2016 No deduction available for Interest exp by salaried employee. Business & Professional can take as business expenses.
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
13 April 2016 interest on vehicle loan is not deductible from the salary income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details