Tax audit and personal expenditure
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 April 2016
Assessee has a tax audit. He has taken housing loan, but neither the loan nor the property is reflected in the balance sheet of the business and we are not claiming interest expense also. Is there a liability to deduct tds? If no can you just let me know the section to be referred?
Thanks in advance
Thanks in advance
26 April 2016
Housing loan and property not related to business need not reflect in balance sheet. Claim interest in tax workings. TDS liability is there if housing loan is obtained from other than banks.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Error in uploading Form 10BD
- Banking Related Issue
- Difff in ais receipts and gst turnover
- Loss of interest in PF transfer from EPFO to Trust
- ITR-3 File/Error Found
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Gst on travel by air for business purposes
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
