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Query
Need to know the treatment of Loan and interest on loan as well as tds deducted in case of assessee on which section 44AD is applicable.
Replies (5)
Mention type of loan(house,personal ,business etc.) & on which income TDS deducted.
if your client
if your client gonna declare ROI u.s. 44AD then there's no implication whether the loan is of housing or personal etc
Please Mention:
1. Nature of Loan
2. Status of Assessee (Firm, Company, Individual, Proprietorship?)
3. Whether the loan is taken for the 44AD business or is it availed for any HouseProperty (if individual,etc)?
if the loan is for House property, then interest is allowed and if for business then interest is deemed to be allowed.
further, tds deducted by other can be claimed by showing the relevant income
further, tds deducted by other can be claimed by showing the relevant income
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