- This topic has 4 replies, 2 voices, and was last updated 10 years ago by
.
Viewing 5 posts - 1 through 5 (of 5 total)
- Posts
Every loan or bank interest for non-tading purpose should be taken into consideration in CIT, does it mean:purpose whether trading or non-trading is not a restriction for calculation in CIT? It is ok whether purpose is trading or not.
Interest payable does indeed achieve tax relief on the CT computation it is just a question of where!
Interest payable on a trading loan is deducted in deriving the trading income assessment whereas interest payable on a non trading loan is deducted from interest receivable.
Viewing 5 posts - 1 through 5 (of 5 total)
- You must be logged in to reply to this topic.