banner_ad

Section 43 b

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
10 May 2013 Interest on Cash credit account will be covered under section 43 B or not ? Why ?

My query arised because if bank charges interest on Cash credit then my loan amount increases and my balancing drawing pewer reduces and reduction in balancing drawing power does not mean repayment of interest.
Profile Image

Deepak Agrawal

Profile Image

Deepak Agrawal (Expert)
10 May 2013 If the payment is not made in accordance with the terms and conditions of the Loan/CC agreement entered with Bank, then such payment cannot be allowed/or allowed to the extent it is paid during the relevant year u/s. 43B.

Thus your case is covered u/s. 43B.
Profile Image

Guest

Profile Image

Guest (Expert)
11 May 2013 As per Section 43B(e)

any sum payable by the assessee as interest on any [loan or advances] from a scheduled bank in accordance with the terms and conditions of the agreement governing such loan [or advances]


Hence your case is covered under Section 43B.

Deepak is right
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details