allowability of interest

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

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