Interest Expenses Non-Deductible for Capital Work Loans u/s 36(1)(iii); Must Be Capitalized Instead.

Interest Expenses Non-Deductible for Capital Work Loans u/s 36(1)(iii); Must Be Capitalized Instead. https://www.taxtmi.com/highlights?id=62062 Disallowance of interest expenses u/s. 36(1)(iii) - disallowance of financial cost attributable to capital work in progress and project work in progress - In case, the assessee has taken any loan for specific purpose of acquisition of asset or execution of project, then interest attributable to said purpose needs to be capitalized to work in progress account - AT en-us Tue, 22 Feb 2022 10:52:52 +0530 Tue, 22 Feb 2022 10:52:52 +0530 TaxTMI RSS Generator Interest Expenses Non-Deductible for Capital Work Loans u/s 36(1)(iii); Must Be Capitalized Instead. https://www.taxtmi.com/highlights?id=62062 Disallowance of interest expenses u/s. 36(1)(iii) - disallowance of financial cost attributable to capital work in progress and project work in progress - In case, the assessee has taken any loan for specific purpose of acquisition of asset or execution of project, then interest attributable to said purpose needs to be capitalized to work in progress account - AT Highlights Income Tax Tue, 22 Feb 2022 10:52:52 +0530 https://www.taxtmi.com/highlights?id=62062