Interest on loan taken for purchase of office
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2013
My query,
I have taken bank loan for purchase of office and accordingly loan installment includes interest and principal repayment.
a) Can i claim interest payment as expenditure from business and profession?
b) Can i claim depreciation on office?
I have taken bank loan for purchase of office and accordingly loan installment includes interest and principal repayment.
a) Can i claim interest payment as expenditure from business and profession?
b) Can i claim depreciation on office?
05 April 2013
Yes, both you can claim.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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