INTEREST PAID TO STANDARD CHARTERED BANK - whether eligible for allowable exps as it is not scheduled bank...
Menu
Please advise
Replies (2)
As per section 37 (1) The amount of interest paid are allowable if interest pertain to wholly and exclusively for the purpose of business. Interest is allowable for schedule and un-scheudule banks, infact loan may be borrowed from indiviudal, company etc
Shceduled and non shceduled bank is not a criteria to decide about allowability of interest.
Recent Topics :
- ITR 3 Utility Not Taking Marginal Relief on Net To
- MV Electrosystems IPO Allotment Date, Status Check
- TDS payment code query
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
Related Topics :
CAclubindia
