Friends whether repayment of loan taken to construct building of charitable institution is application of income ?
3 Replies
KRISHNAPRASAD IYER
(B.Com , CA Final)
(657 Points)
Replied 21 June 2012
Yes, it can be treated as an application of income
BB124
(efgh)
(35 Points)
Replied 21 June 2012
Thank you friends !! Will the actual expenditure at the time of deduction also be application ? Will we get double deduction ?
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