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Interest on investment received

This query is : Resolved 

29 June 2021 A raised investment from various sources for his business through cheques Rs 40 lakhs and agreed to pay interest 50% i.e 1960000 as interest. Is this interest allowable a deduction expenses under incometax or is there any limit to claim interest paid amount for proprietor ship. explain

23 September 2021 Loan period not mentioned. The net interest rate should be tenable.

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