Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Interest paid to third parties falls under the head “business ...

Income Tax

April 11, 2016

Interest paid to third parties falls under the head “business expenditure” which is liable to be deducted while computing the net profit - AT

View Source

 


 

You may also like:

  1. Deduction u/s 80HHC - Ninety per cent of not the gross interest/rent but only the net interest/rent, which has been included in the profits of the business of the...

  2. Interest u/s 36(1)(iii) - Loans borrowed for expansion of business - Net unit established - Interest paid on the loan will have to be treated as revenue in nature - HC

  3. Business expenditure - Interest on late payment of TDS - The issue involved is whether the interest paid by the assessee to the government can be termed as compensatory...

  4. Assessee has raised loans and paid interest and forwarded the same for non-business consideration therefore the interest from the said amount cannot be allowed as...

  5. Valuation of goods - Third party inspection - third party's inspection charges initially paid by the appellants and subsequently reimbursed by the buyers is not...

  6. Netting off of the interest income against interest expenditure - assessee has deposited the funds which were not immediately required for the assessee’s business and as...

  7. Net profit rate of the eight percent is most appropriate as provided under section 44AD for retail business having business turnover not exceeding ₹ 60 lacs - AT

  8. TDS u/s 194A - interest income paid to a company carrying on a business of insurance need not deduct tax at source. - AT

  9. Co-operative society carrying on banking business need not to deduct tax at source u/s 194A in respect of the interest paid to members on deposits - AT

  10. TDS on amount paid through agent - Short deduction of TDS on the payment to agent - Once the payment is made through the agent to the third party against the services...

 

Quick Updates:Latest Updates