Interest disallow
munish
(Querist) 11 August 2012
This query is : Resolved
I WISH TO DISALLOW INTEREST EXPENDITURE IN TUNE OF SURPLUS MONEY ( CASH IN HAND ) , CASH NOT UTILIZED FOR ANY PURPOSE BUT INTEREST PAID TO BANK. CAN ANYONE TELL ME IN WHICH SECTION I DISALLOW INTEREST AND CAN IT MENTIONED IN 3CB.

Guest
(Expert) 12 August 2012
Please check Section 36 of Income Tax Act.