For clause 31 of Tax Audit
1) Whether interest amount is included for section 269SS , 269T and 269ST.
2)Also suggest whether interest amt included for column
Maximum amount outstanding in the account at any time during the previous year.
Thanks.
Tax Audit clause 31
Replies (2)
Quick Summary
Yes interest has to be considered for taking out maximum amount outstanding durring the year
In my humble understanding, interest should not be included for working out loan taken and repaid under section 269SS, 269T and 269ST.
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