Tax on income from business can set off house property loan
This query is : Resolved
binu sukumaran
(Querist)
26 November 2024
sir,
one of my friend has only income from business and he has loan from single house property.
let's me know whether he can set deduction this tax amount from business income to interest from house property and this principal loan amount.
with regards
Binu
one of my friend has only income from business and he has loan from single house property.
let's me know whether he can set deduction this tax amount from business income to interest from house property and this principal loan amount.
with regards
Binu
Dhirajlal Rambhia
(Expert)
26 November 2024
As such no; because it is not a business expenditure.
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