INTEREST ON LOAN against commercial property

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53 Points Posted on 03 October 2022
I would like to know whether interest on loan taken against commercial property which is occupied for business purpose is allowed as business expense or no?
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On 03 October 2022 at 17:47 Report
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Quick Summary
This discussion clarifies whether interest paid on a loan taken against commercial property used for business purposes can be claimed as a business expense. The consensus is that it is indeed allowable, provided the loan was utilised for the business and the interest was paid during the relevant financial year.

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SEO Sai Gr. Hosp.
212455 Points Posted on 04 October 2022

Yes, provided the loan amount is utilized for business purpose...

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On 04 October 2022 at 18:11
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12244 Points Posted on 05 October 2022
I would like to add one more point to Mr Dhiraj sir's reply..
the interest amount should've been paid during the previous year
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On 05 October 2022 at 07:09

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