Interest on personal loan
This query is : Resolved
pavan kumar k
(Querist)
06 March 2012
Sir,
One State Govt.Employees Income from salary is Rs. 300000/- Less Deductions Rs.30000/-. He did't claimed below Expenses.
1.Interest on personal loan from SBI is Deductible from tax or not?
2. dependent son suffering from blood clot in brain and his medical expenditure is Rs. 10000/- this is Deductible or not?
3. His wife was taking medicines from psychiatrist. is this deductible?
Thanking you
Regards,
Pavan Kumar k.
One State Govt.Employees Income from salary is Rs. 300000/- Less Deductions Rs.30000/-. He did't claimed below Expenses.
1.Interest on personal loan from SBI is Deductible from tax or not?
2. dependent son suffering from blood clot in brain and his medical expenditure is Rs. 10000/- this is Deductible or not?
3. His wife was taking medicines from psychiatrist. is this deductible?
Thanking you
Regards,
Pavan Kumar k.
07 March 2012
Sir,
following are the answer of ur query.
1. interest on person loan is not deductible from taxable income.
2.Expenditure incurred on medical treatment is deductible so you can take advantage of this expenses.
3. No only medi claim is allowable and not cost of medicines allowed.
following are the answer of ur query.
1. interest on person loan is not deductible from taxable income.
2.Expenditure incurred on medical treatment is deductible so you can take advantage of this expenses.
3. No only medi claim is allowable and not cost of medicines allowed.
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