Loan processing charges
Whether loan processing charges are allowable exp .
or not . .pls support with recent judgement ,
notification or case law . ..thanks in advance
Replies (1)
The deductibility depends on the purpose of the loan. If the loan is for acquiring a capital asset it is not considered deductible. If the loan is for working capital needs then it is deductible. This is a fairly clear rule unless your circumstace is complicated in some way . only then you need to rely on case laws
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