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Remittance of Money

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(Querist)
31 August 2010 If resident in India has borrowed funds from India and invested such funds in business carried out by him outside India then interest being paid on such funds is allowable under the head profit and gains from business or profession?
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CA Apurav Agawal

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CA Apurav Agawal (Expert)
02 September 2010 Yes, sure you can claim it as an expenditure as long as other provisions like TDS etc. of the Indian Income Tax Act are complied with.
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