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Tax implications if any for property mortgaged

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29 June 2014 Suppose A Pvt Ltd Company Mortgaged its property for loan taken by B Pvt Ltd. from bank. What are the tax implications from income tax point of view for A Pvt Ltd. Kindly advise.
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Soumitra Basu

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Soumitra Basu (Expert)
01 July 2014 There is no tax implication in this transaction. Only if B Ltd cannot repay the loan then the lender shall have the first charge on the property of A ltd.
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