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Interest on investment received

This query is : Resolved 
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(Querist)
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
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
23 September 2021 Loan period not mentioned. The net interest rate should be tenable.
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