Dear Sir/mam
If in case a proprietor/shareholder/partner of the business taken loan and invest such amount as capital.
The interest which is chargeable on such how the tratment of such in income tax.
Can it allowed as deduction from dividend in other sources or allowed as business expenditure?
Interest expense allowed against dividend income or income in respect of units of a mutual fund subject to max. 20% of such income as per sec 57 of income tax act.
A loan may or may not be a current asset depending on a few conditions. A current asset is any asset that will provide an economic value for or within one year. If a party takes out a loan, they receive cash, which is a current asset, but the loan amount is also added as a liability on the balance sheet.
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