alleryStart learning →Interest payable outside India is non-deductible if what has not happened?
AIt was not paid in rupees
BPrior approval was not taken
CTax was not paid or deducted
DThe lender was not a bank
Answer & Solution
Correct answer: C. Tax was not paid or deducted
Section 58 disallows such interest when tax has neither been paid nor deducted under Chapter XVII-B.
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