Intarest on car loan

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MALAY DAS (Querist)
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22 January 2013 dear expart
any intarest paid on car loan is treated as expenses, if car is used for the business? advice me sir, thanks

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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26 January 2013 If Car is used for business purpose then only interest can be claimed as an expense.
If car is used for personal use interest can not be claimed as deduction against any income.
.

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MALAY DAS

MALAY DAS (Querist)
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27 January 2013 dear bafna sir
thanks... but its used for the business or not how can it found out? but bin this case
car used for travelling for the business
as well as for personal purpose.please advice me thanks.......

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