Loan amount it deduction accept

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B.com
3025 Points Posted on 06 November 2021
it assess cash loan from daughter rs:15 lacs through on online mode received for purchase of property purpose.
question:
loan from daughter rs:15 lacs amount it deduction claim allowed in it act.
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On 06 November 2021 at 20:01 Report
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Quick Summary
This discussion clarifies whether a Rs 15 lakh cash loan received from a daughter for property purchase is eligible for an IT deduction. While the loan itself isn't a direct deduction, it's recognised as a liability on your balance sheet according to the IT Act.

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SEO Sai Gr. Hosp.
212548 Points Posted on 06 November 2021

Yes allowed.                   

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On 06 November 2021 at 21:10
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Chartered Accountant
24588 Points Posted on 07 November 2021
Yes it is allowed
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On 07 November 2021 at 05:56
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ca
603 Points Posted on 07 November 2021
15 Lacs form Daughter will not be a deduction but would instead be accounted as liability in your balance sheet.
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On 07 November 2021 at 17:07

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