set off int income
This query is : Resolved
rakesh sharma
(Querist)
30 March 2009
I recieve int of 7 lacs against loan given to company. I also repay 10 .00 agt some loan taken by me. I have a business income of Rs 5.00 lacs also.
Can I set off excess interest paid by me
on( 7 lacs recieved-10 lacs paid) against business income or any other income.
In case it is not allowed can I carry forward the loss to next year.
Regards
Can I set off excess interest paid by me
on( 7 lacs recieved-10 lacs paid) against business income or any other income.
In case it is not allowed can I carry forward the loss to next year.
Regards
rakesh sharma
(Querist)
30 March 2009
56
31 March 2009
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