banner_ad

allowability of interest

Tax queries 716 views 3 replies

Will interest paid to mother for loan taken will be allowable under IT Act ?

Replies (3)

loan for what purpose????

Hi Mr. Arvind,

Please explain your problem

Regards

Vijay Kumar

Mr. Arvind

If mother is holding separate status in I T and has souce of  fund, it can be claim as expenditure at reasonable rate of interest if it is taken for business pupose from head from "Income from business " and if it is for construction / purchase of house from "House property etc. for other head,  income should have earned from the loan taken.

Surana, Chennai

9952967237


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

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

SSGS and Associates

Chennai

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

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

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details