Misutilisation of home loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 March 2013
what are the provisions applicable, if an assessee has taken a home loan in his individual file and utilised the same amount for purchasing shares in a company?
please mention the provisions applicable to company as well as individual.
please mention the provisions applicable to company as well as individual.
02 March 2013
Hey
Consequences will be that benefits availed by showing Int. on HL & Principle repayment would be dis allowed & Tax liability will be calculated with Int & Penalty.
Thanks!!
Consequences will be that benefits availed by showing Int. on HL & Principle repayment would be dis allowed & Tax liability will be calculated with Int & Penalty.
Thanks!!
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