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Does Your Business Loan Get Tax Benefits ?

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  Business loans are required at various stages of business activities like expansions, purchase of working capital, equipment etc., so as to maintain consistent cash flow for ensuring smooth business operations. Business loans carry an interest charge which is deductible as an expense from your gross income.  Are business loans tax-deductible in India?  Yes, business loans are tax-deductible in India. As per the provisions of the Income Tax Act, 1961 the interest component of the business loan is eligible to be deducted from profits earned in your business. The Income Tax Act further clarifies that business loans availed are not income from the business, through which the business earns profits.  Tax Benefits under Business Loan ⦁ Interest charge on business loan - Business loan entails an interest charge which has to be paid back to the lender as part of the monthly instalment. The interest component of the business loan is eligible for a tax deduction as a form...
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5 Cs of Business Loans

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  Businesses need a regular funds flow for managing their varied financial requirements. Most of the expenses can be met from revenues but there are times when a larger expenditure needs to be incurred for future betterment of the company. Business loans are meant for such situations. Business owners, whether they are entrepreneurs or established businessmen, look at these loans when they want to expand their organization. In fact, it can be said that business loans are a necessity for any enterprise to grow and succeed. However, applying for a business loan and getting it approved are two different things. Banks offer loans to both small and large enterprises but they only provide money to borrowers who have the capacity to repay the loan in full and within the agreed time limit. They follow certain guidelines as a basis for their final decision. To understand these guidelines, let us look at what is called the 6 Cs of business loans. 1. Character Lending institutions always look ...
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