banner_ad

Treatment of interest paid by individual

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
28 December 2012 I HAVE TAKEN LOAN FROM BANK & INVESTED THE SAME IN PARTNERSHIP FIRM.FOR A.Y 2012-13 I HAVE FOLLOWING INCOME
INCOME U/S 44AD = 198750
INTEREST/SALARY REC.
FROM PARTNERSHIP = 944120
FIRM
INTEREST PAID TO BANK = 1105467
I DON'T MAINTAIN ANY BOOKS OF ACCOUNT PLEASE TELL ME ITS TREATMENT & WHERE TO DISCLOSE BANK INTEREST IN ITR4
Profile Image

CA Neha Chauhan

Profile Image

CA Neha Chauhan (Expert)
29 December 2012 Hello,

You can claim Interest paid by you as business expenses under the head Business & Professional Income from income earned as Interest on capital and remuneration.

Regards,
Neha Chauhan
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
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details