Dear Friends,
I have a query related to Car Loan.
1. One of my client is a State Govt. Employee. If he buy a car through Car loan Does he get any tax benefit?? If yes than provide the details.
2. One author gets his Royalty Income. If he buys a car through through Car loan Does he get any tax benefit?? If yes than provide the details.
Thanks in advance..
1. No
2. Yes, u/s. 80QQB. Refer: https://blog.cleartax.in/section-80qqb-authors-can-claim-deduction-for-royalty-income/
K R Kiran Kumar & Associates
Bengaluru
CA Inter
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Eshwar & Co Chartered Accountants - Nungambakkam
Chennai
CA Inter
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