Interest pay amount claim allowed for gold loan and crop loan
This query is : Resolved
Kollipara Sundaraiah
(Querist)
14 December 2021
Sir,
It business person
Crop loan from bank rs:3 lacs
Gold loan from bank rs:4 lacs received crop loan amount used for agriculture purpose and gold loan used for business purposes.
Question:
Assessess interest pay amount on gold loan and crop loans business expenses claim allowed in it act.
It business person
Crop loan from bank rs:3 lacs
Gold loan from bank rs:4 lacs received crop loan amount used for agriculture purpose and gold loan used for business purposes.
Question:
Assessess interest pay amount on gold loan and crop loans business expenses claim allowed in it act.
CA R SEETHARAMAN
(Expert)
15 December 2021
Interest on gold loan used for business only allowed as business expenses.
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