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INTEREST ON LOAN against commercial property

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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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160327 Points)
Replied 04 October 2022

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

rama krishnan (12234 Points)
Replied 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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