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Int paid to bank and pay above 10,000/- expenses

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26 July 2020 Assess new strated construction of commerical building in f.y.2019-2020
Some Construction expenses rs.5,00,000/- payment through on cash mode (10,000/- limit above per day)
Int paid bank loan rs.4,15,500/-
Question:
Assess construction expenses paid above 10,000 limit amount construction value including or excluded
Int paid to bank loan amount including construction value or business expenses .two expense transactions treatment in books under I.t. act.

27 July 2020 Expenses paid in cash more than Rs 10k/per day are to be disallowed.
Interest expenses are business expenses.



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