PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Interest on borrowed capital extends to service fees and other charges connected with money borrowed, debt incurred or a credit facility. Protection insurance, processing fees and annual maintenance charges paid in connection with a bank loan used to acquire a let-out property fall within this broader meaning where their genuineness and nexus with the borrowing are undisputed. Such charges are deductible as interest on borrowed capital in computing income from house property, and the related disallowance is not sustainable.
Interest on borrowed capital extends to service fees and other charges connected with money borrowed, debt incurred or a credit facility. Protection insurance, processing fees and annual maintenance charges paid in connection with a bank loan used to acquire a let-out property fall within this broader meaning where their genuineness and nexus with the borrowing are undisputed. Such charges are deductible as interest on borrowed capital in computing income from house property, and the related disallowance is not sustainable.
Note: It is a system-generated summary and is for quick reference only.
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