sec43B &SEC 36&37
This query is : Resolved
10 March 2009
Interest payble on bank borrowing was converted into loan and repayble in 8 equal instalment.At the time of paying the instalement amount Can the company claim it as business expenditure?Because here name of the expenditure only changed but was incurred towards earning the taxable income.IN books of accounts it is showing as loan repayble.
10 March 2009
yes
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