CA Inter doubt
Cay one pls explain calculation of this
Asked by Mansi1 Aug 2024458 views
3 answers
Vignesh · 1 Aug 2024
As per IT Act, Interest on capital expense of a firm is allowed only upto 12%
Nidhi · 1 Aug 2024
Int. On capital= 300000 * 0.12= 36000 Int on loan = 50000* .15= 7500 Total =36000 +7500 = 43500
Gowtham · 1 Aug 2024
Int. on HUF's capital: ₹3,00,000 * 15% = ₹45,000 Int. on loan: ₹50,000 * 15% = ₹7,500 Total interest: ₹45,000 + ₹7,500 = ₹52,500 Not sure about, the suggested answer D
Free app · 5 lakh+ learners
Ask your doubt in the Studycaller app
Read full notes, ask doubts, follow toppers and track your study hours — free on Android and iPhone.