Hello every one.
My question is that if we purchase shares from borrowed money, does the interest paid on the borrowed money is treated as the cost of acquisition or it is not allowable?
Thanks in advance.
ARSHAD (student-CA_final) (74 Points)
19 May 2014Hello every one.
My question is that if we purchase shares from borrowed money, does the interest paid on the borrowed money is treated as the cost of acquisition or it is not allowable?
Thanks in advance.
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 19 May 2014
interest paid on borrowed money will not become cost of acquition
but it can be claimed from divident earned
CAclubindia
