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interest exempt or not

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(Querist)
03 March 2010 sir, tell me if a person finanaced a car and paying regular instellment. paying interest on financed car is exempt or not
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
03 March 2010 The question is not clear. It appears that, you want to know, whether the interest paid on financed car is allowable as business expenditure.

If the car is used for business purpose, then Yes.
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