[aaykarbhavan] Interest paid on borrowed sum isn't deductible when income is determined by applying estimated rate of net profit

Interest paid on borrowed sum isn't deductible when income is determined by applying estimated rate of net profit

February 23, 2015[2015] 54 taxmann.com 68 (Punjab & Haryana)

IT : Depreciation is allowable even if total income is estimated by applying net profit rate

IT : Deduction of interest paid on borrowed capital is not allowable where income is estimated by applying net profit rate

 

Regards

Prarthana Jalan

__._,_.___

---

Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

---

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Visit Your Group

• New Members 2

• Privacy • Unsubscribe • Terms of Use