Friday, 26 August 2011

Clarification regarding non-inclusion of audits conducted under sections 44AD, 44AE and 44AF in the “specified number of tax audit assignments” - (23-08-2011)

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Interest on Foreign Currency Loan & Corresponding Forex Loss for Strategic Share Acquisition Held Deductible as Revenue Expenditure

  The tax treatment of interest on funds borrowed to acquire shares hinges on a single, crucial distinction: the   purpose   behind the acqu...