Thursday, 14 August 2014

Finance Bill 2014 passed

The Finance (No. 2) Act 2014, as assented by the Hon’ble President on 6th August, 2014 and as published in the Official Gazette

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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...