Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2018
AN EDUCATIONAL TRUST GETS LOAN FROM "BANK A" AND CONSTRUCTS A BUILDING AND LATER FINDS THAT THE INTEREST IS HIGH AND GETS LOAN FROM "BANK B" AND SETTLES THE LOAN FROM "BANK A" AND CLAIMS THE COST OF THE LOAN THAT IS USED FOR BUILDING CONSTRUCTION AS CAPITAL EXPENDITURE...MY QUESTION IS IT ALLOWABLE AS PER INCOME TAX ACT,1961???
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2018
??????????????????????????????????
15 October 2021
No.
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