Intarest on car loan
This query is : Resolved
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
any intarest paid on car loan is treated as expenses, if car is used for the business? advice me sir, thanks
CA PARAS BAFNA
(Expert)
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.
.
If car is used for personal use interest can not be claimed as deduction against any income.
.
Message likes :
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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.......
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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