Interest deduction on loan for ipo
This query is : Resolved
16 February 2013
The assessee has taken loan for the purchase of IPO. Dealing in share is not his business.Will the interest accruing on such loan be deductible??
CA.Sourabh Sethia
(Expert)
16 February 2013
since the same is not his business the same is not deductible
have other Expert opinion
have other Expert opinion
Pankaj Joshi
(Expert)
16 February 2013
Agreed with sourabh, the capital of the assessee shall be reduced by the amount of interest on loan.
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