loan repayment
This query is : Resolved
Nagendra Kumar
(Querist)
14 February 2008
If one person taken loan for business
Repayment of principle is elgible for deduction under any section
Repayment of principle is elgible for deduction under any section
CA. Kirti S. Ganatra
(Expert)
14 February 2008
No, It is not deductible. Only Interest is deductible
jegannath G
(Expert)
14 February 2008
as said by Kirti, it is not deductible. only the interest on the such loan is deductible. That too for the interest repaid to the borrower with in the due the date of filing the return.
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