Menu
Interest on Home Loan
pls tell me home loan interest allow in business P & L.
Replies (4)
Home loan interest is not allowable under business P&L.
If it's used as company guest house then interest can be claimed under business expenditure. Depreciation too can be claimed.
If it's used as company guest house then interest can be claimed under business expenditure. Depreciation too can be claimed.
No....
Home Loan interest is not allowed as deduction under Business PNL. It is a personal expense. Since disallowed u/s 37(1) of the Income Tax Act 1961.
You can claim it u/s 24(b) of the Income Tax Act 1961 while computing Income from House Property ( upto Rs. 2,00,000 if Self Occupied and no upper limit if let out ).
Home Loan interest is not allowed as deduction under Business PNL. It is a personal expense. Since disallowed u/s 37(1) of the Income Tax Act 1961.
You can claim it u/s 24(b) of the Income Tax Act 1961 while computing Income from House Property ( upto Rs. 2,00,000 if Self Occupied and no upper limit if let out ).
okay sir thanks a lot
No, Home Loan is not allowed as deduction under Business P & L.
Recent Topics :
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
Related Topics :
CAclubindia
