Respected Members,
I am running a small business and took a gold loan of Rs.2,00,000/- (Rupees Two Lakhs Only) from a leading and RBI registered gold loan company. I paid interest of Rs.45000/- (Rupess Forty Five Thousand Only) as interest on gold loan. Am I eligible to get deductions on tax which I paid as interest on gold loan? If yes, under which section?
Thanking You
Swarna kamal Chandra
CAclubindia
