Car on loan
Kishan Kamble (Articled Assistant) (37 Points)
15 June 2016
Freinds, Does taking a car on loan have any income tax benefits. Can u please explain me the details.
Kishan Kamble (Articled Assistant) (37 Points)
15 June 2016
CA Madhvi
(...Blissful...)
(1658 Points)
Replied 15 June 2016
If you are carrying on any business activity,and using your car in your bsuiness,then you can claim such interest expenditure.Otherwise no deduction available for such interest.
Kishan Kamble
(Articled Assistant)
(37 Points)
Replied 15 June 2016
So for a salaried employee there is no deduction avaliable.
CAclubindia
