Dear members,
I am a salaried employee and I have a commercial car and fully utilised for business purpose only. I am going to fill ITR-4S. Now my question is how can I treat the EMI expense (Principal + Interest). Can I charged both the amount of (principal + interest) in P/L account or I should take the exemption of interest while filling he ITR-4S. If yes in which U/S.
Total principal amount - Rs. 36284/-. Total interest amount. - Rs. 52847/-. Total (principal + interest) = Rs. 89131/-
CAclubindia
