how can we claim deduction for interest on car loan? deduction limit ?
a) in case of salaried person
b) in case of business person
Menu
Deduction of interest on car loan
Replies (6)
You can't claim deduction of car loan if it's not an electric car, in case of salaried person.
In case of Business the car will be shown as an asset and interest will show as deduction in P&L account.
In case of Business the car will be shown as an asset and interest will show as deduction in P&L account.
There is no deduction for interest on car loan
CAN we claim ITC on car, if we used car on busniess (proprietorship)..
Yes....
Yeah...
Yes you can claim
Recent Threads
- Demat of shares of private limited company
- Income only with share market around 5-6 lack
- Missed GST Reporting for March 2025
- Future and Option Turnover
- Outstanding demand
- Error in filing income tax return
- DRAFT - DIRECTOR's REPORT OF BASE LAYER NBFC
- Amt of LTCG required to be reinvested on house pro
- Charity Commissioner of Maharashtra site error
- GST under my personal name
Related Threads
CAclubindia
