Interest deduction
Querist : Anonymous
Mr. X has taken loan of Rs. 5 lacs from Mr. Y @ 1.5% PM interest, plz clarify weather Mr. Y can claim the deduction of interest or not.....
Please Reply.....
apparently yes!
From your reading your question i don't find any complication which resist Y from taking the deduction.
Querist : Anonymous
Earlier you did not mention in your query!
To Claim the interest loan must be from financial Institutaion.
Querist : Anonymous
Your view please........
Click here to login now
Similar Resolved Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Eway bill not cancelled within 24 hous what can be due
- DIN reactivation
- TDS Return Q1 FY 2026-27
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
