Interest on dlop and sop
This query is : Resolved
05 April 2014
interest on loan deductible u/s 24b is allowed on paid basis or accrual basis?
06 April 2014
on accrual basis only.
please refer to section 24(B):
"where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest payable on such capital....."
the word used is payable instead of paid...
please refer to section 24(B):
"where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest payable on such capital....."
the word used is payable instead of paid...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxability with reference to DTAA
- TDS applicability in case of software payments to a foreign company
- Residential Status of Assessee
- TDS on payment of Event fees to foreign Party
- Capital Gain on sale of Listed Equity Shares
- Forms to be file after INC 20A
- STCG on equity shares/ETF-sundeep
- Regarding TDS 194Q w.e.f 1 April 2025
- TDS Rent 94I
- Fixed Deposit through NRO Account
- FORM-RED-11
- Companies law Appointment of CS
- GST Input & GST Output in same company with two different GSTIN
- Due date of ESI,EPF and MSME
- Registry of flat in 3 names
- Logistics business Services Refund can we Received 100%
- Rate of GST On Stock Transfer
- PAN Allotement
- TDS ON OTA Commission
- First Auditor was not appointed till 9 months
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
