interest on loan taken for purchase of guest house
This query is : Resolved
16 April 2010
Sir,
What is the treatment of Interest on Loan (as per I.T. Act) Taken by Ltd. Co. to purchase a guest house for investment purpose.
The Co. has no income from this guest house but co. has various properties and having rental income from them.
The company doing business of sale purchaes,renting of property,brokerage & construction of property
Thanks & Regards
Sushil
What is the treatment of Interest on Loan (as per I.T. Act) Taken by Ltd. Co. to purchase a guest house for investment purpose.
The Co. has no income from this guest house but co. has various properties and having rental income from them.
The company doing business of sale purchaes,renting of property,brokerage & construction of property
Thanks & Regards
Sushil
CA Ashok Kumar Sahu
(Expert)
17 April 2010
as per my opinion deduction allowable on interest paid to loan for investment purpose.
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