Interest set off
This query is : Resolved
25 March 2013
a partner has earned rs. 1000000 as interest from his partnership firm. he has taken some loan for partnership firm purpose i.e., business purpose. the interest payable comes to rs. 900000. he has paid this amt from his own pocket. can he set off this amt of 900000 from the interst earned of 1000000
25 March 2013
Yes, he can set-off that.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
25 March 2013
could you please send me a reference of a case study/law for the same query ....
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