Interest on loan from nbfc

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Querist : Anonymous (Querist)
05 March 2016 if a company or firm taken loan and interest on such loan not paid before filing ITR due date whether interest will be disallowed under sectioin 43 b

05 March 2016 Dear
It is allowed on actual payment basis.
Hence it will be disallowed.

19 March 2016 If loan taken from Scheduled Bank, Financial Institution the 43B is applicable.

19 March 2016 Dear
It is applicable in case the loan is taken from scheduled bank.


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