Treatment of interest payable
This query is : Resolved
04 July 2017
Can someone clarify on the treatment of interest payable in the computation of income under the head PGBP. It is mentioned in sec. 43B that int. to nationalized banks are allowed only on payment basis. So, my question is what if the expenses is on accrual(i.e , still payable) basis and the loan has been taken from parent company?
04 July 2017
If loan has been taken from parent company it will be allowed on accrual basis.
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