Tag Archives: section 57(iii)

Interest paid on money borrowed for investment in shares

By | August 18, 2015

Q :whether interest paid on money borrowed for investment in shares, which had not yet yielded any dividend is admissible expenditure under section 57(iii)  ? Interest paid on money borrowed for investment even in shares which had not yet yielded any dividend, was admissible under section 57(iii) HIGH COURT OF CALCUTTA Sri Saytasai Properties & Investment… Read More »

No need to have income to claim expenses under section 57(iii)

By | August 18, 2015

Question Whether it is not necessary that any income should  have been earned as a result of expenditure to claim expenses under section 57(iii)? Answer : No ,It is not necessary that any income should in fact have been earned as a result of expenditure. Therefore, interest paid on money borrowed for investment in shares, which… Read More »