Interest on personal loan
This query is : Resolved
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- FORM 26A APPLICABILITY
- Value of property in capital gain
- SFT Cash Deposit in Current Account
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
