AY 2017-18
The assessee has accrued interest liability on unsecured loans., however before filing ROI, the actual payment was not made.
Is this claim of expense allowed from business income?
if not, then under which section it can be disallowed?
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Interest accrued on unsecured laon
Replies (3)
Unsecured loan from whom ?
From non banking or financial company..
such as other business entities and individual
such as other business entities and individual
Interest on loans from these entities are not covered under 43B. And hence question of its dis-allowance doesn't arise.
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