Itr 4

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Vivek (Querist)

18 September 2012 Dear Sir,
Interest on car loan is Rs. 41465/-.
Whether I should put in cell no. 41 of part PL of itr4 or I should put it in cell no.36 of other expences of part PL of itr 4.

Please advise me.
It's urgent.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

18 September 2012 At cell no.41 of interest cell. In case it is disallowed as personal expenses then it would be adjusted in Schedule BP.

OM SAI SRI SAI JAI JAI SAI

Vivek

Vivek (Querist)

18 September 2012 So I have to place it in Schedule BP again.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

18 September 2012 If it is personal nature of expenditure then only you have to place it at schedule BP again to adjust your business Income according to IT act.

OM SAI SRI SAI JAI JAI SAI

Vivek

Vivek (Querist)

18 September 2012 Said car is used in business, So I should mention the interest only in cell no. 41 at Part PL or not.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

18 September 2012 If it is used for business purpose then fill at 41 of P&L only.

OM SAI SRI SAI JAI JAI SAI

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