36(1)(iii)

as per the section in case a business is existing

And asset is purchased for expansion of existing business… as per proviso no deduction shall be allowed in respect of any amount of interest paid , In respect of capital borrowed for acquisition of a new asset for expansion of the business ( whether capitalized in books or not) and where such amount of interest paid is for the period beginning from the date on which the capital was borrowed for for acquisition till the date on which such asset is first put into use………..
Plzzz clrify this section n tell me y interest cannot be allowed when an asset is purchased for expansion,……………
Replies (1)

Only the portion of the interest liability pertaining to period till the asset is put into use is not allowable if the capital is borrowed for acquiring a capital assets. Thereafter, it is allowable. [(Sec.36 (1) (iii)]

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
18 August 2026
CA Semi Qualifies

Goyanka and Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
14 August 2026
Article Assistant CA Articleship

Eshwar & Co Chartered Accountants - Nungambakkam

Chennai

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
18 August 2026
Audit Assistant - Remote / Work From Home

CA ANOOP P K & ASSOCIATES

Kozhikode

CA Inter

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details