Which section for deduction of principal amt of loan under h
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2013
Partnership firm can claim deducation of principal Repayment of loan against purchased property, if yes under which section.
06 April 2013
Deduction is available only in respect of the interest amount.
The principal amount is capitalised in the books and depreciation u/s 32 shall be allowed on such principal amount.
The principal amount is capitalised in the books and depreciation u/s 32 shall be allowed on such principal amount.
27 May 2013
The expert is right. The deduction which you are talking is available to only Individuals and HUF etc and not to the firm or companies.
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