Loan Repayments Not Deductible Against Business Profits Under Income Tax Act Sections 30-43C for Charitable Entities.

Charitable purpose - Application of loan repayment allowability - The repayment of loan is not an allowable deduction against profit and gains of the business even under section 30 to 43C of the Act - the assessee is not eligible for application of loan repayment against the income for charitable purposes. - AT .....

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